A New York-listed automobile seller is plotting a bid for the UK operations of Inchcape.

Sky News has realized that AutoNation, which has a market capitalisation of practically $7bn (£5.5bn), is among the many suitors circling the enterprise since Inchcape confirmed in January it was conducting a strategic evaluate.

AutoNation is claimed to be on the early phases of contemplating a suggestion and should but not resolve to proceed with one, based on trade sources.

If it does go forward, it will signify a primary step into the UK for AutoNation after it withdrew six months in the past from a bidding struggle for Pendragon, one other London-listed automobile seller.

A deal could possibly be value within the area of £350m, insiders stated.

AutoNation failed to reply to a number of emailed and telephoned requests for remark.

The sale of Inchcape's UK operations would mark one other stage within the trade's possession shake-up.

Last 12 months, Lithia Motors struck a deal to acquire Jardine Motors, the UK-based firm, from Hong Kong conglomerate Jardine Matheson Holdings.

Lithia additionally agreed to purchase the dealerships and leasing companies of Pendragon.

Separately, Lookers was sold to Canada's Alpha Auto Group in a £465m deal.

The Inchcape UK division consists of 70 websites, using 3,700 individuals, and works with automobile producers together with Audi, BMW, Jaguar, Toyota and Volkswagen.

Sources told Sky News in January that the disposal of its UK dealerships would depart Inchcape free to concentrate on its higher-margin distribution actions in additional than 40 nations around the globe.

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One added that shedding market perceptions of the corporate as a UK-focused automobile seller ought to allow its board to draw the next score for its inventory.

The firm's shares have risen barely during the last 12 months, leaving it with a market capitalisation of £3bn.

Selling its British enterprise can be a landmark step for Inchcape, which traces its roots again to 1847 when William Mackinnon and Robert Mackenzie fashioned a common merchanting partnership.

Inchcape Group floated on the London Stock Exchange in 1958 beneath the title IGD.

It started buying and selling beneath its present identification in 1981.

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In latest years it has pursued an aggressive worldwide enlargement, buying companies in China, Australia and mainland Europe.

Distribution actions now account for greater than 90% of Inchcape's group income, which means its UK retail enterprise is a comparatively insignificant a part of the group in profitability phrases.

The flurry of dealmaking will, if the Inchcape sale goes forward, depart Vertu Motors as the one London-listed UK automobile seller.

Inchcape declined to remark.