Edition:
United Kingdom

Bilia agrees to buy Belgian BMW And Mini Dealer


Monday, 3 Sep 2018 

Sept 3 (Reuters) - Bilia AB ::REG-BILIA HAS REACHED AN AGREEMENT ABOUT A STRATEGIC ACQUISITION OF A BMW AND MINI DEALER IN BELGIUM.SAYS COMPANIES HAD DURING LAST THREE YEARS A YEARLY TURNOVER OF ABOUT SEK 750 M AND AN OPERATING PROFIT OF ABOUT SEK 40 M.SAYS NUMBER OF EMPLOYEES AMOUNTS TO AROUND 60 PERSONS.SAYS OPERATION'S CAPITAL EMPLOYED, PLUS AGREED-ON SURPLUS VALUES, AMOUNTS TO ABOUT SEK 270 M.SAYS AGREEMENT ALSO INCLUDES TAKE-OVER OF TWO FACILITIES, WHERE OPERATIONS ARE RUN, AT A VALUE OF ABOUT SEK 100 M.SAYS DEAL WILL INCREASE BILIA GROUP'S CAPITAL EMPLOYED AND NET DEBT BY A TOTAL OF ABOUT SEK 370 M.SAYS CLOSING IS EXPECTED TO TAKE PLACE DURING Q4.SAYS AGREEMENT IS SUBJECT TO APPROVAL BY BELGIAN COMPETITION AUTHORITIES. 

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25 Apr 2019