July 21 (Reuters) - Automotive Group Holdings Ltd AHG.AX :
* Potential sale and lease-back of properties AHG.AX
* Sale for approximately $38.5million and leaseback of properties currently owned by AHG
* Entered exclusive discussions for the sale and leaseback of an existing dealership site and two development properties
* Total value of the properties when fully developed is estimated at $77.5million
* Says deal is not expected to have a material impact on forward operating earnings
* Proposed transaction if completed will relieve AHG from approximately $39million in future development capital expenditure
* Source text for Eikon ID:nASX2mN3DK
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