Ljubljana, 02 October (STA) - The Emil Frey Group is buying the Slovenian car dealerships Autocommerce, Avto Triglav and AC-Mobil, which are part of the holding company ACH 2, with the value of the deal not disclosed. The Swiss car dealership needs to get the approval of the European Commission to finalise the deal.
The deal has been confirmed for the business newspaper Finance by ACH 2, the holding company formed after the division of assets among the owners of the former ACH holding.
The paper reported in July that three executives controlling almost 90% of ACH 2 were about to sell the car dealership business of the holding but at the time only Autocommerce was reported to be on sale.
According to unofficial information, the possible figure mentioned at the time was EUR 30 million.
Autocommerce, which distributes cars of the Mercedes-Benz brand in Slovenia, last year generated EUR 169 million in revenue and less than EUR 2 million in profit.
Avto Triglav operated with similar figures in 2018, while AC Mobil generated EUR 23 million in revenue and EUR 600,000 in profit.
The Emil Frey Group, the Swiss dealership for Jaguar, Lexus and other luxury marques, owns Mercedes-Benz car dealerships in Croatia, Serbia and Montenegro, among others.
It is already present in Slovenia, owning two companies distributing cars of the French automotive companies Peugeot and Citroen.