LJUBLJANA (Slovenia), September 14 (SeeNews) - Hungary-based investment company AutoWallis said it has signed a binding agreement to acquire Slovenian car dealer Avto Aktiv.
AutoWallis will pay the purchase price from its own resources, the Hungarian company said in a statement last week.
The closing of the transaction requires the consent of the Slovenian Competition Authority.
No financial details on the transaction were revealed in the statement.
The Slovenian company's sales can be considered significant among previous transactions, approaching 10% of AutoWallis' expected sales this year, the Hungarian company noted.
Avto Aktiv recorded a turnover of nearly 18 billion Hungarian forints ($60.7 million/51.4 million euro) in 2020 and has been selling and servicing BMW, MINI, Jaguar, Land Rover, Toyota and Suzuki vehicles in Koper, Kranj, Ljubljana, Nova Gorica and Trzin for almost 20 years, AutoWallis said.
In October, AutoWallis closed the acquisition of A-Cosmos, the only BMW dealership in Slovenia, entering the country's automotive retail market.
(1 euro = 350.085 Hungarian forints)