BILIA ACQUIRES BILFORUM AS IN NORWAY
Bilia has concluded an agreement with Bilforum Holding AS on the acquisition of all shares in Bilforum AS and Bilforum Finans AS. Bilforum is a well renowned and profitable car retailer that represents Volvo, Renault and Land Rover in the Stavanger area in Norway. The company has an annual turnover of about SEK 390 M and an operating margin of about 2.7 per cent. Cars are sold from two dealerships, and the company has about 100 employees. Bilforum will be a member of the Bilia Group as from 1 January 2008, subject to the approval of the competition authority. Bilia’s Managing Director, Jan Pettersson, has the following to say about the acquisition: “The acquisition of Bilforum provides opportunities for economies of scale that will benefit the customers. We are gaining access to new geographical markets, at the same time as the deal further strengthens our position as Scandinavia’s largest car retail chain.”
Göteborg, 21 December 2007
Bilia AB (publ)
For further information please contact Jan Pettersson, Managing Director and CEO, or Gunnar Blomkvist, Chief Financial Officer, Bilia AB, Tel. +46 31-709 55 00.
