LKQ CORP. TO SELL TWO MOTOR FACTOR CHAINS

Chicago-based LKQ Corporation has announced the decision to sell two Czech wholesale automotive parts distributors to Swiss Automotive Group AG. Terms of the transaction were not disclosed.

In May 2018, the European Commission cleared LKQ’s acquisition of Stahlgruber GmbH, with the exception of Stahlgruber’s two wholesale businesses in the Czech Republic, which were referred for review to the Czech Competition Authority. Earlier this year, the Czech Competition Authority approved LKQ’s acquisition of the two Czech distributors, subject to certain divestiture conditions. LKQ subsequently decided to sell the entire equity interests of the two businesses. LKQ Europe will continue to operate its existing Auto Kelly a.s. and ELIT s.r.o. businesses in the Czech Republic.

Dominick Zarcone, President and Chief Executive Officer of LKQ, stated, “We appreciate the efforts of local management to build a successful business in the Czech Republic, and we are proud that we have found an outstanding new owner for it.”

LKQ expects to complete the sale in early 2020, subject to required regulatory approvals.

Published by GregWhitaker

Editor of CAT Magazine and an experienced motoring journalist

Autopromotec about to go live

International show set to open after long absence

Read More

Leamoco and M1 acquired by AAG

Former IFA and Groupauto member

Read More

In Pictures: It’s a wrap for Fleet Factors

TMD branding on Teeside-based chain’s vehicles

Read More

DVLA ‘ghost records’ highlight EU driving licence loophole

Licence holders that do not update details are causing a headache for insurers

Read More

Over half of garages preparing to increase prices

Survey shos increasing parts prices, coupled with cost of living, is bringing workshops to increase rates

Read More

Go to comments

Your email address will not be published. Required fields are marked *