Listed Hungarian car seller AutoWallis on Friday said it signed a preliminary agreement to acquire another Slovenian car dealership, Avto Aktiv, state news wire MTI reports.
AutoWallis closed the acquisition of the sole BMW dealership in Ljubljana, the largest one in Slovenia, a few weeks ago.
Avto Aktiv sells BMW, MINI, Jaguar, Land Rover, Toyota, and Suzuki vehicles and provides the related services in four cities in Slovenia. In 2019, it sold 877 new vehicles and had a revenue of EUR 37 million in 2019.
The agreement still requires approval from the local competition office.
Under the preliminary agreement, the owners of Avto Aktiv will transfer the affected divisions into AutoWallis in return for AutoWallis shares and will support the operations of AutoWallis in Slovenia as strategic partners.
AutoWallis is the exclusive importer of the Jaguar Land Rover brands in Slovenia. It will also soon start wholesale operations for the Opel brand in the country, in addition to Croatia, Bosnia-Herzegovina and Hungary.
AutoWallis is present in 14 countries in the CEE region.