The deal is expected to close by year-end if it’s approved by regulators and key automakers in their networks. In a release announcing the deal, Global Auto Holdings did not disclose the financial terms of the deal. The Wall Street Journal reported it was valued around US$1.2 billion, including debt. (The Logic, The Wall Street Journal)
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The deal is expected to close by year-end if it’s approved by regulators and key automakers in their networks. In a release announcing the deal, Global Auto Holdings did not disclose the financial terms of the deal. The Wall Street Journal reported it was valued around US$1.2 billion, including debt. (The Logic, The Wall Street Journal)
Talking point: K.W. Bruun distributes both new vehicles and spare parts for European and Chinese automakers.The Nordic company has long-term contracts and strong market share in Denmark and Sweden that Global Auto says will help diversify its chain of dealerships, which already includes Honda, Subaru, Toyota, Dodge, and Mini in Canada. The new acquisition comes after Global Auto, which does business as Alpha Auto Group in the U.S. and Canada, paid £504.2 million to buy U.K. dealership chain Lookers last year.
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