Malaysian conglomerate Sime Darby Bhd has agreed to acquire three major car dealerships in Australia for a total of AU$112m (US$77m), according to local reports.
The proposed acquisition by subsidiary Sime Darby Motors includes BMW-Mini, Volkswagen and Jaguar-Land Rover dealerships located in the Parramatta area of Sydney, a prominent car dealer area of the city.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The deal with Trivett, the automotive retail unit of Inchcape Australia, is expected to be completed by December 2019.
The acquisition will strengthen the Malaysian company's existing dealer network in the country which includes the BMW, Mini, Porsche and Citroen brands.
It also owns a vehicle leasing and rental company called Corefleet.
In Malaysia, the Sime Darby dealer network includes BMW, Porsche, Ford, Hyundai and Jaguar-Land Rover.
Sime Darby is a conglomerate with annual revenues of MYR36.2bn (US$870m), operating in sectors such as plantations, vehicle and industrial equipment retailing and distribution, ports and logistics, healthcare, energy and utilities, with a workforce of 100,000 people in 20 countries.
