The European Union Commission has cleared joint ventures between Isuzu Motors and trading company Mitsubishi Corp. to sell Isuzu cars on markets in Belgium, Luxembourg and Spain.
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Dow Jones News said Isuzu and Mitsubishi are teaming up with Belgian car distributor Alcadis to create Isuzu Benelux. The new company will distribute Isuzu cars in Belgium and Luxembourg with the financial support of Mitsubishi Corp. Alcadis will control 80% and Mitsubishi and Isuzu will each control 10% of Isuzu Benelux.
Alcadis is the car distribution division of Alcopa, a Belgian holding company, the news agency noted.
Similarly, Isuzu and Mitsubishi will join forces with Spanish car wholesaler Berge Automation S.L. to sell cars on the Spanish market, the report added.
Dow Jones said Mitsubishi is providing financial backing to both deals, but won’t be selling its own cars.
