Deal secures business assets and properties of dealerships for five marques; BMW, MINI, Volkswagen, Jaguar and Land Rover at Parramatta’s “Auto-Alley”
SYDNEY, 11 SEPTEMBER 2019 - Sime Darby Berhad announced today that its subsidiary, Sime Darby Motors (Australia) Pty Limited has entered into binding agreements with Trivett, the automotive retail unit of Inchcape Australia Limited to acquire the business assets and properties of three car dealerships representing the BMW, MINI, Volkswagen, Jaguar and Land Rover marques in the suburb of Parramatta in Sydney.
The deal adds Volkswagen, Jaguar and Land Rover to Sime Darby Berhad’s list of marques in Australia, managed by its Motors Division, Sime Darby Motors. It represents all five marques in the other markets it operates in.
“The proposed investment is aligned to Sime Darby Motors’ strategy to expand via mergers and acquisitions, targeting the retail luxury and super luxury segments, particularly in large markets like Australia. The addition of these dealerships to our existing Porsche Parramatta operations will expand our scale in the retail luxury business at one of Sydney’s most recognised automotive retail locations.”
“Following close on the heels of Sime Darby Berhad’s announcement on the purchase of the trans-Tasman Gough Group, this acquisition shows the Group’s long-term commitment to investment in Australasia," said Patrick McKenna, Managing Director of Sime Darby Motors Australia and New Zealand.
The acquisition will be funded by bank borrowings and is subject to the approval of the Foreign Investment Review Board of Australia. It is expected to be completed in early December 2019.
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For further information, please contact:
Tan Yee Pheng
Head, Group Communications
Sime Darby Berhad
Tel: +6019 381 6330
Email: tan.yee.pheng@simedarby.com
Dean Crow
Head of Marketing
Sime Darby Motors New Zealand
Tel: +64 9 526 6946 / +64 21 904 684
Email: dean.crow@simedarby.co.nz
About Sime Darby Berhad
Sime Darby Berhad is a partner of choice for the world's best brands in the Industrial and Motors sectors. We deliver sustainable value to our stakeholders through operational excellence, high performance standards and good corporate governance. Founded in 1910, Sime Darby Berhad today has a workforce of approximately 20,000 employees and a presence in 18 countries and territories across the Asia Pacific region. It is listed on the main market of Bursa Malaysia with a market capitalisation of RM15.914 billion (USD3.81 billion) as at 10 September 2019.
For more information, please visit www.simedarby.com
About Sime Darby Motors
Sime Darby Motors is one of the leading automotive groups in Asia Pacific, representing luxury brand such as BMW, Rolls-Royce, Jaguar, Land Rover and Porsche to broad appeal market brands including Ford and Hyundai, as well as commercial vehicles. Sime Darby Motors is actively involved in all facets of the automotive business – from importation and assembly, to distribution, retail and rental. Its retail operations feature some of the best and latest state-of-the-art facilities in the region. In Australia, Sime Darby Motors operates several dealerships in Brisbane representing BMW, Volvo, Ferrari, Rolls Royce.
For more information please visit www.simedarbymotors.com
