AutoWallis has entered the car retail market of another country

By: Trademagazin Date: 2024. 07. 01. 08:09

The AutoWallis Group also entered the Czech car retail market after successfully closing the acquisition of three BMW dealerships from Stratos Auto. During the transaction, the dominant car trade and mobility service provider of the Central and Eastern European region bought BMW dealerships in Prague and two other Czech cities. The acquisition effectively supports AutoWallis’ strategy, which aims to expand further through acquisitions in addition to organic growth and business development.

The AutoWallis Group has successfully closed another acquisition after it bought the three BMW dealerships of the Czech Stratos Auto following the previous approval of the Czech Competition Authority and meeting all the closing conditions. With the acquisition, the AutoWallis Group is now present in the Czech car retail market, in Prague, Hradec Králové and Pardubice, in addition to the Hungarian and Slovenian ones, while its wholesale business distributes several well-known car brands in 16 countries of the region.

In the first step of the transaction, the company listed in the Premium category of the Budapest Stock Exchange bought 80 percent of the company that owns the three BMW dealerships, which it will increase to 100 percent by acquiring the remaining share within two years.