Bilia has today signed an agreement relating to the acquisition of the operations of one of Sweden’s largest used-car dealers, Michaelsson & Nelin AB, which is based in Uppsala. This acquisition is dependent on the approval of Bilia’s Board of Directors.
“Uppsala is an exciting growth region with large-scale purchasing power and we are now establishing ourselves here by acquiring a well-known, profitable car dealership. The new group exemption, which came into force on 1 October this year, gives us the opportunity to set up business operations on interesting markets,” says Bilia’s managing director, Jan Pettersson.
Michaelsson & Nelin AB currently sells some 1,300 cars and has a turnover of approximately SEK 145 M. Its operating margin is around five per cent and the company has 17 employees.
This acquisition is dependent on the approval of the Swedish Competition Authority.
Göteborg, 24 October 2005
Bilia AB (publ)
For further information, please contact Bilia’s managing director, Jan Pettersson, or its CFO, Gunnar Blomkvist, Bilia AB, phone: +46 31 709 55 00.
