UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D/A
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 14)*
United Auto Group, Inc.
------------------------------------------------------------------------------
(Name of Issuer)
Common Stock (Par Value $ 0.0001 Per Share)
Common Stock (Par Value $ 0.0001 Per Share) Issuable Upon Conversion
of Series B Preferred Stock and Non Voting Common Stock
(Par Value $0.0001 Per Share)
------------------------------------------------------------------------------
(Title of Class of Securities)
909440 10 9
------------------------------------------------------------------------------
(CUSIP Number)
Valerie Ford Jacob, Esq.
Fried, Frank, Harris, Shriver & Jacobson
One New York Plaza
New York, NY 10004
212-859-8000
------------------------------------------------------------------------------
(Name, Address and Telephone Number of Persons Authorized to Receive
Notices and Communications)
June 13, 2002
------------------------------------------------------------------------------
(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
---------- ------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
INTERNATIONAL MOTOR CARS GROUP I, 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 8,814,669
SHARES
-------- ------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 0
-------- ------------------------------------------
9 SOLE DISPOSITIVE POWER
EACH
8,814,669
REPORTING
-------- ------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH 0
---------- ------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
21,646,786
---------- ------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
---------- ------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
51.5%
---------- ------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
---------- ------------------------------------------------------------------
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 2,216,902
SHARES
-------- -------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 0
-------- -------------------------------------------
9 SOLE DISPOSITIVE POWER
EACH
2,216,902
REPORTING
-------- -------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH 0
---------- -------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
21,646,786
---------- -------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
---------- -------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
51.5%
---------- -------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
---------- -------------------------------------------------------------------
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.
---------- -------------------------------------------------------------------
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 11,031,571
SHARES
-------- -------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 0
-------- -------------------------------------------
9 SOLE DISPOSITIVE POWER
EACH
551,454
REPORTING
-------- -------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH 10,480,454
---------- -------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
21,646,786
---------- -------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
---------- -------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
51.5%
---------- -------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
---------- -------------------------------------------------------------------
SCHEDULE 13D
CUSIP No. 909440 10 9
---------- -------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
JAMES A. HISLOP
---------- -------------------------------------------------------------------
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
UNITED STATES
------------------------- -------- -------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 60,000
SHARES
-------- -------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 11,031,571
-------- -------------------------------------------
9 SOLE DISPOSITIVE POWER
EACH
50,000
REPORTING
-------- -------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH 11,031,571
---------- -------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
21,646,786
---------- -------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
---------- -------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
51.5%
---------- -------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
---------- -------------------------------------------------------------------
SCHEDULE 13D
CUSIP No. 909440 10 9
---------- -------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
ROGER S. PENSKE
---------- -------------------------------------------------------------------
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
UNITED STATES
------------------------- -------- -------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 441,667
SHARES
-------- -------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 21,145,119
-------- -------------------------------------------
9 SOLE DISPOSITIVE POWER
EACH
441,667
REPORTING
-------- -------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH 21,145,119
---------- -------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
21,646,786
---------- -------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
---------- -------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
51.5%
---------- -------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
---------- -------------------------------------------------------------------
SCHEDULE 13D
CUSIP No. 909440 10 9
---------- -------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
PENSKE CORPORATION
---------- -------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) |_|
(b) |X|
---------- -------------------------------------------------------------------
3 SEC USE ONLY
---------- -------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
---------- -------------------------------------------------------------------
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 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 5,863,678
---------- -------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
21,646,786
---------- -------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
---------- -------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
51.5%
---------- -------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
---------- -------------------------------------------------------------------
This Amendment No. 14 ("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, Amendment No. 11 filed on March
1, 2002, Amendment No. 12 filed on March 27, 2002, and Amendment No. 13
filed on May 14, 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 3.
The total amount of funds used to purchase 10,000 shares of
Voting Common Stock of the Company purchased by James A. Hislop between May
14 and June 13, 2002 was $240,910 and such funds were obtained from the
personal funds of James A. Hislop.
ITEM 4.
On April 1, 2002, IMCG I distributed 212.008 shares of Series A
Preferred Stock to PCP and IMCG I currently intends to distribute 57,847
shares of Voting Common Stock to PCP in the near future.
IMCG II currently intends to distribute 129,822 shares of Voting
Common Stock to PCP.
The shares of Voting Common Stock purchased by James A. Hislop
were purchased for investment purposes.
ITEM 5. INTERESTS IN SECURITIES OF THE ISSUER.
The Reporting Persons were advised by the Company that as of June
13, 2002 there were 39,831,582 shares of Voting Common Stock outstanding
(not including any securities convertible into Voting Common Stock).
(a) On June 13, 2002, (i) IMCG I distributed 454,394 shares of
Voting Common Stock to certain of its non-managing members for such members
to sell pursuant to Rule 144 and (ii) IMCG II distributed 1,019,756 shares
of Voting Common Stock to certain of its non-managing members for such
members to sell pursuant to Rule 144.
As of June 13, 2002, as a result of the transactions previously
reported on this Schedule 13D and (i) the distribution of the 454,394
shares of Voting Common Stock to non-managing members of IMCG I reported
herein, (ii) ) the distribution of the 1,019,756 shares of Voting Common
Stock to non-managing members of IMCG II reported herein and (iii) the
accrual of 19,088 shares of Non-Voting Common Stock to be received in lieu
of cash dividends accrued on the outstanding shares of Series B Preferred
Stock since December 31, 2001, if, and only if, the Series B 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 21,646,786 shares of Voting Common Stock, which constitutes
approximately 51.5% of the 42,027,039 shares of Voting Common Stock deemed
to be outstanding for this purpose. The 42,027,039 shares deemed to be
outstanding was determined by adding the 39,831,582 shares of Voting Common
Stock outstanding as of June 13, 2002 to the 2,195,457 shares of Voting
Common Stock into which the securities reported as beneficially owned by
the Reporting Persons are convertible.
As of June 13, 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 48.8% of the voting
power with respect to matters coming before the holders of the Voting
Common Stock.
(b) As of June 13, 2002, assuming the conversion into Voting
Common Stock of the Series B Preferred Stock and the shares of Non-Voting
Common Stock, IMCG I has the sole power to direct the vote of 8,814,669
shares of Voting Common Stock, and IMCG II has the sole power to direct the
vote of 2,216,902 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 11,031,571 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 21,145,119 shares of Voting Common Stock. James
A. Hislop has the sole power to direct the vote of 60,000 shares of Voting
Common Stock and shared power to direct the vote of 11,031,571 shares of
Voting Common Stock.
As of June 13, 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
8,814,669 shares of Voting Common Stock,
o IMCG II has the sole power to direct the disposition of
2,216,902 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
5,863,678 shares of Voting Common Stock,
o PCP has the sole power to direct the disposition of
551,117 shares of Voting Common Stock and the shared
power to direct the disposition of 10,480,454 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 21,145,119 shares of Voting
Common Stock, and
o James A. Hislop has the sole power to direct the
disposition of 60,000 shares of Voting Common Stock and
the shared power to direct the disposition of
11,031,571 shares of Voting Common Stock.
(c) On April 1, 2002, IMCG I distributed 212.008 shares of Series
A Preferred Stock to PCP. On June 13, 2002, IMCG I distributed 454,394 of
Voting Common Stock to one of its non-managing members and IMCG II
distributed 1,019,756 shares of Voting Common Stock to one of its
non-managing members.
Between the date of the filing of Amendment No. 13 to this
Schedule 13D and June 13, 2002, James A. Hislop purchased the following
shares of Voting Common Stock, all in open market transactions on the New
York Stock Exchange:
Purchase Date Number of Shares Per Share Purchase Price
------------- ---------------- ------------------------
June 5, 2002 9,000 $24.10
June 5, 2002 1,000 $24.01
Except as described herein, none of the Reporting Persons have
effected any transactions in the Voting Common Stock since May 14, 2002,
the date of filing of the thirteenth 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.
June 24, 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.
June 24, 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.
June 24, 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.
June 24, 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.
June 24, 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.
June 24, 2002
PENSKE CORPORATION
By:/s/ Robert Kurnick
----------------------------------
Name: Robert Kurnick
Title: Executive Vice President