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Kmart sells auto centers

Published on .

Kmart Corp., Troy, Mich., will sell its 860 automotive service centers for $112 million to Penske Auto Center, a new corporation controlled by Penske Corp., Detroit. The company headed by Roger Penske runs an Indy Car racing team, owns auto dealerships and operates Penske Truck Leasing Co. and Detroit Diesel Corp. Kmart will sublease the auto center's retail space to Penske.

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