Toyota Motor is said to be considering buying up Inchcape Motors, a Singapore subsidiary of the world’s largest independent motor distributor, Inchcape plc.
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The deal is dependent on a proposed delisting of Inchcape Motors, which distributes Toyota and Suzuki in the Asian island state.
The London-based parent company has offered to buy out minority shareholders of Inchcape Motors for £55 million. If successful, Inchcape plc will take over the Singapore unit and delist it.
Toyota executives have not yet commented but it is recognised in the region that car manufacturers want to take a bigger interest in distribution.
“By doing this, Toyota can buy into the company with minimum fuss,” a source told the Singapore Business Times, adding that “it probably won’t happen immediately but it’s something you can’t rule out entirely”.
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By GlobalDataToyota Motor bought the final shares in its UK subsidiary, Toyota GB, from Inchcape at the end of 2000.
