Brothers Ltd. is believed imminent.

The move would be a major consolidation in Bermuda's car dealership market.

HW&P managing director Don Mackenzie said yesterday discussions between the two companies had occurred but added that there "is no deal at this point.'' A source recently told The Royal Gazette that HW&P was buying Ray Brothers. At that time, principals of both companies declined comment.

Mr. Mackenzie is one of a new trio of investors -- Greg Vasic and Richard Zuill are the others -- who last year bought a substantial interest in HW&P from founder Sir John Plowman and former deputy premier Irving Pearman.

HW&P directors and executives held a luncheon at the Royal Hamilton Amateur Dinghy Club yesterday to honour Mr. Plowman's 50 years with the company.

Earlier this year, Mr. Plowman stepped down as chairman of the board and was succeeded by Mr. Pearman, previously managing director.

Mr. Plowman remains a director.

To mark his contributions to HW&P, the company yesterday announced a $15,000 annual scholarship for post secondary studies to go to HW&P employees and their families. HW&P hopes to activate the scholarship in the next year.

Fifty years ago, Mr. Plowman was the lone employee of the company which was set up as a car distributor. Four years later, Mr. Pearman joined the company.