16th Jan 2020 10:39
(Alliance News) - Car dealer Inchcape PLC said Thursday it agreed to acquire Daimler AG's Colombian distribution operations for Mercedes-Benz passenger cars and private vans for an undisclosed sum.
The acquisition will add to its Subari, Hino and JLR operations in the country, and enhance the group's Latin American platform which represents the BMW, Mercedes-Benz, Hino, Subaru, Suzuki and JLR brands, Freightliner and Fuso in eight markets across the region.
This follows the announcement in early November 2019 of Inchcape acquiring Autolider, a distributor of Daimler brands in Ecuador.
"The focus on our core Distribution capabilities and the disciplined allocation of capital are consistent with Inchcape's strategy of long-term sustainable growth," Inchcape stated.
Shares in Inchcape - which is based in London - were up 0.2% at 694.50 pence on Thursday.
By Dayo Laniyan; [email protected]
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