Sime bags BMW dealership in Australia

เขียนโดย fahummeenudmin

PETALING JAYA (Dec 2, 2013): Sime Darby Bhd's automotive arm Sime Darby Motors has clinched its first BMW dealership in Australia in a deal worth RM238.4 million (A$80.7 million), making its entry into the luxury auto market there where it already has a presence through other marques. On Friday, Sime Darby Motors signed agreements with several parties to acquire a 70% stake in Brisbane BMW Group consisting of LMM Holdings Pty Ltd and Brisbane BMW Unit Trust as well as 100% proprietorship rights of land and buildings owned by its shareholders for RM238.4 million. The Brisbane BMW Group currently holds two BMW dealerships, one Mini dealership and one Lamborghini dealership. The acquisitions, which are expected to be completed by end of February 2014, are subject to certain conditions which include, among others, the consent of the Foreign Investment Review Board, BMW Australia Ltd and Automobili Lamborghini SpA.

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