UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D/A
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 12)*
United Auto Group, Inc.
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(Name of Issuer)
Common Stock (Par Value $ 0.0001 Per Share)
Common Stock (Par Value $ 0.0001 Per Share) Issuable Upon
Conversion of Series A Convertible Preferred Stock,
Series B Preferred Stock and Non Voting Common Stock
(Par Value $0.0001 Per Share)
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(Title of Class of Securities)
909440 10 9
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(CUSIP Number)
Valerie Ford Jacob, Esq.
Fried, Frank, Harris, Shriver & Jacobson
One New York Plaza
New York, NY 10004
212-859-8000
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(Name, Address and Telephone Number of Persons Authorized to
Receive Notices and Communications)
March 25, 2002
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check
the following box |_|.
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities
Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of
that section of the Act but shall be subject to all other provisions of the
Act (however, see the Notes).
SCHEDULE 13D
CUSIP No. 909440 10 9
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
INTERNATIONAL MOTOR CARS GROUP I, L.L.C.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X|
(b) |_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
NOT APPLICABLE
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) |_|
NOT APPLICABLE
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
------------------------- -------- ------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 9,449,332
SHARES
-------- ------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 0
-------- ------------------------------------------
9 SOLE DISPOSITIVE POWER
EACH
9,449,332
REPORTING
-------- ------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH 0
---------- ------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
23,055,833
---------- ------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
55.5%
---------- ------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
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SCHEDULE 13D
CUSIP No. 909440 10 9
---------- ------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
INTERNATIONAL MOTOR CARS GROUP II, L.L.C.
---------- ------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) |X|
(b) |_|
---------- ------------------------------------------------------------------
3 SEC USE ONLY
---------- ------------------------------------------------------------------
4 SOURCE OF FUNDS
NOT APPLICABLE
---------- ------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) |_|
NOT APPLICABLE
---------- -------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
------------------------- -------- -------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 3,217,963
SHARES
-------- -------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 0
-------- -------------------------------------------
9 SOLE DISPOSITIVE POWER
EACH
3,217,963
REPORTING
-------- -------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH 0
---------- -------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
23,055,833
---------- -------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
---------- -------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
55.5%
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14 TYPE OF REPORTING PERSON
OO
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SCHEDULE 13D
CUSIP No. 909440 10 9
---------- -------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
PENSKE CAPITAL PARTNERS, L.L.C.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) |X|
(b) |_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
NOT APPLICABLE
---------- -------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) |_|
NOT APPLICABLE
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
------------------------- -------- -------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 12,667,295
SHARES
-------- -------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 0
-------- -------------------------------------------
9 SOLE DISPOSITIVE POWER
EACH
361,356
REPORTING
-------- -------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH 12,305,939
---------- -------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
23,055,833
---------- -------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
---------- -------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
55.5%
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14 TYPE OF REPORTING PERSON
OO
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SCHEDULE 13D
CUSIP No. 909440 10 9
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
JAMES A. HISLOP
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) |X|
(b) |_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
NOT APPLICABLE
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) |_|
NOT APPLICABLE
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES
------------------------- -------- -------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 50,000
SHARES
-------- -------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 12,667,295
-------- -------------------------------------------
9 SOLE DISPOSITIVE POWER
EACH
50,000
REPORTING
-------- -------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH 12,667,295
---------- -------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
23,055,833
---------- -------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
55.5%
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14 TYPE OF REPORTING PERSON
IN
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SCHEDULE 13D
CUSIP No. 909440 10 9
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
ROGER S. PENSKE
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) |X|
(b) |_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
NOT APPLICABLE
---------- -------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) |_|
NOT APPLICABLE
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES
------------------------- -------- -------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 441,667
SHARES
-------- -------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 22,564,166
-------- -------------------------------------------
9 SOLE DISPOSITIVE POWER
EACH
441,667
REPORTING
-------- -------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH 22,564,166
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
23,055,833
---------- -------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
---------- -------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
55.5%
---------- -------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
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SCHEDULE 13D
CUSIP No. 909440 10 9
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
PENSKE CORPORATION
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) |_|
(b) |X|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) |_|
NOT APPLICABLE
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
------------------------- -------- -------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 9,896,871
SHARES
-------- -------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 0
-------- -------------------------------------------
9 SOLE DISPOSITIVE POWER
EACH
9,896,871
REPORTING
-------- -------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH 5,838,467
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
23,055,833
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
---------- -------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
55.5%
---------- -------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
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This Amendment No. 12 ("Amendment") amends and supplements the
Schedule 13D filed on behalf of International Motor Cars Group I, L.L.C., a
Delaware limited liability company ("IMCG I"), International Motor Cars
Group II, L.L.C., a Delaware limited liability company ("IMCG II" and
together with IMCG I, the "Purchasers"), Penske Capital Partners, L.L.C., a
Delaware limited liability company ("PCP"), Penske Corporation, a Delaware
corporation ("Penske Corporation"), Roger S. Penske and James A. Hislop
(all such persons, the "Reporting Persons") with the Securities and
Exchange Commission on April 22, 1999, as amended by Amendment No. 1 filed
on May 3, 1999, Amendment No. 2 filed on August 5, 1999, Amendment No. 3
filed on February 9, 2000, Amendment No. 4 filed on September 12, 2000,
Amendment No. 5 filed on October 26, 2000, Amendment No. 6 filed on
December 18, 2000, Amendment No. 7 filed on December 26, 2000, Amendment
No. 8 filed on February 14, 2001, Amendment No. 9 filed on March 6, 2001,
Amendment No. 10 filed on August 7, 2001 and Amendment No. 11 filed on
February 22, 2002 (the "Schedule 13D"), relating to the Voting Common
Stock, par value $0.0001 per share (the "Voting Common Stock"), of United
Auto Group, Inc., a Delaware corporation (the "Company"). Capitalized terms
used but not otherwise defined herein shall have the meanings ascribed to
such terms in the Schedule 13D. The Schedule 13D is hereby amended and
supplemented as follows:
ITEM 4.
IMCG I currently intends to distribute 212.018 shares of Series A
Preferred Stock to PCP in the near future.
ITEM 5. INTERESTS IN SECURITIES OF THE ISSUER.
The Reporting Persons were advised by the Company that as of
March 25, 2002 there were 32,361,887 shares of Voting Common Stock
outstanding (not including any securities convertible into Voting Common
Stock).
(a) On March 18, 2002, IMCG I distributed 1,748.246 shares of
Series A Preferred Stock to certain of its non-managing members for such
members to convert and sell in the Company's registered public offering of
the same date, and on March 25, 2002 IMCG I distributed an additional
164.476 shares of Series A Preferred Stock to certain of its non-managing
members for such members to convert and sell pursuant to the exercise by
the underwriters of their overallotment option in connection with the
Company's registered public offering.
As of March 25, 2002, as a result of the transactions previously
reported on this Schedule 13D and (i) the distribution of the 1,912.722
shares of Series A Preferred Stock reported herein, and (ii) the accrual of
83,644 shares of Voting Common Stock and 31,921 shares of Non-Voting Common
Stock to be received in lieu of cash dividends accrued on the outstanding
shares of Preferred Stock since December 31, 2001, if, and only if, the
Preferred Stock is converted prior to the payment of the accrued cash
dividends, the Reporting Persons may be deemed to be the beneficial owners
of an aggregate of 23,055,833 shares of Voting Common Stock, which
constitutes approximately 55.5% of the 41,535,270 shares of Voting Common
Stock deemed to be outstanding for this purpose. The 41,535,270 shares
deemed to be outstanding was determined by adding the 32,361,887 shares of
Voting Common Stock outstanding as of March 25, 2002 to the 9,173,383
shares of Voting Common Stock into which the securities reported as
beneficially owned by the Reporting Persons are convertible.
As of March 25, 2002, taking into account only those securities
held by the Reporting Persons that are currently outstanding and have
voting rights, the Reporting Persons held approximately 53.0% of the voting
power with respect to matters coming before the holders of the Voting
Common Stock and the Series A Preferred Stock.
(b) As of March 25, 2002, assuming the conversion into Voting
Common Stock of the Series A Preferred Stock, the Series B Preferred Stock
and the shares of Non-Voting Common Stock, IMCG I has the sole power to
direct the vote of 9,449,332 shares of Voting Common Stock, and IMCG II has
the sole power to direct the vote of 3,217,963 shares of Voting Common
Stock, in each case subject to certain restrictions contained in the
Restated Stockholders Agreement. PCP has the sole power to direct the vote
of 12,667,295 shares of Voting Common Stock. Penske Corporation has the
sole power to direct the vote of 9,896,871 shares of Voting Common Stock.
Roger S. Penske has the sole power to direct the vote of 20,000 shares of
Voting Common Stock, and, upon (x) the exercise of the Second Closing
Options, (y) the exercise of a portion of an option (such portion covering
16,667 shares of Voting Common Stock) previously granted to Roger S.
Penske, which portion vested in part on January 14, 2001 and in part on
January 14, 2002, and (z) the exercise of a portion of an option (such
portion covering 5,000 shares of Voting Common Stock) previously granted to
Roger S. Penske, which portion vested on February 28, 2002, Roger S. Penske
will have the sole power to direct the vote of an aggregate of 441,667
shares of Voting Common Stock and shared power to direct the vote of
23,005,833 shares of Voting Common Stock. James A. Hislop has the sole
power to direct the vote of 50,000 shares of Voting Common Stock and shared
power to direct the vote of 12,667,295 shares of Voting Common Stock.
As of March 25, 2002, subject to certain restrictions contained
in the IMCG I Letter Agreement and the IMCG II Letter Agreement, as
applicable:
o IMCG I has the sole power to direct the disposition of
9,449,332 shares of Voting Common Stock,
o IMCG II has the sole power to direct the disposition of
3,217,963 shares of Voting Common Stock,
o Penske Corporation has the sole power to direct the
disposition of 9,896,871 shares of Voting Common Stock and
the shared power to direct the disposition of 5,838,467
shares of Voting Common Stock,
o PCP has the sole power to direct the disposition of 361,356
shares of Voting Common Stock and the shared power to direct
the disposition of 12,305,939 shares of Voting Common Stock,
o Roger S. Penske has the sole power to direct the disposition
of 20,000 shares of Voting Common Stock, and, upon (x) the
exercise of the Second Closing Options, (y) the exercise of
portions of an option (such portion covering 16,667 shares of
Voting Common Stock) previously granted to Roger S. Penske,
which portion vested in part on January 14, 2001 and January
14, 2000, respectively and (z) the exercise of a portion of
an option (such portion covering 5,000 shares of Voting
Common Stock) previously granted to Roger S. Penske, which
portion vested on February 28, 2002, Roger S. Penske will
have the sole power to direct the disposition of an aggregate
of 441,667 shares
of Voting Common Stock and the shared power to direct the
disposition of 22,564,166 shares of Voting Common Stock, and
o James A. Hislop has the sole power to direct the disposition
of 50,000 shares of Voting Common Stock and the shared power
to direct the disposition of 12,667,295 shares of Voting
Common Stock.
(c) Between the date of the filing of Amendment No. 11 to this
Schedule 13D and March 25, 2002, IMCG I distributed the following shares
to certain of its non-Managing Members:
Date Number of Shares of Series A Preferred Stock
03/18/02 1,748.246
03/25/02 164.476
Except as described herein, none of the Reporting Persons have
effected any transactions in the Voting Common Stock since February 22,
2002, the date of filing of the eleventh amendment to this Schedule 13D.
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.
March 26, 2002
INTERNATIONAL MOTOR CARS GROUP I, L.L.C.
By: PENSKE CAPITAL PARTNERS, L.L.C.
Its Managing Member
By: /s/ James A. Hislop
-----------------------------
James A. Hislop
President
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.
March 26, 2002
INTERNATIONAL MOTOR CARS GROUP II, L.L.C.
By: PENSKE CAPITAL PARTNERS, L.L.C.
Its Managing Member
By: /s/ James A. Hislop
-----------------------------
James A. Hislop
President
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.
March 26, 2002
PENSKE CAPITAL PARTNERS, L.L.C.
By: /s/ James A. Hislop
-----------------------------
James A. Hislop
President
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.
March 26, 2002
/s/ James A. Hislop
--------------------------
James A. Hislop
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.
March 26, 2002
/s/ Roger S. Penske
--------------------------
Roger S. Penske
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.
March 26, 2002
PENSKE CORPORATION
By:/s/ Robert Kurnick
---------------------------
Name: Robert Kurnick
Title: Executive Vice President