Bilia has signed a letter of intent with Tronrud Holding AS in acquiring all the shares in Tronrud Bil Holding AS. Tronrud is Norway´s largest BMW dealer and represents also other attractive brands as Ford, Honda, Nissan and Mini.
The final agreement is expected to be completed after the due diligence investigation in February 2006. The acquisition is dependent upon the approval of the relevant competition authorities.
BMW´s importer in Norway has accepted Bilia as new owner of Tronrud.
Tronrud is running the operations from 8 dealerships, sales volume 3,000 new and used cars, SEK 800 million in turnover and 150 employees.
Bilia´s CEO, Jan Pettersson, comments to the acquisition:
”Exciting and challenging to get access to new and strong brands. Tronrud is a company that both geographically and from a brand point of view suits Bilia´s operation in Norway. Tronrud´s vision to be the most attractive dealer is in line with Bilia´s objective to be the best service company in the business.”
Göteborg, 3 January 2006
Bilia AB (publ.)
For further information, please do not hesitate to contact Bilia´s managing director and CEO, Jan Pettersson, or CFO Gunnar Blomkvist, Bilia AB, phone +46 31 709 55 00.
