July 15 (SeeNews) - Turkish motor vehicle importer Dogus Otomotiv Servis ve Ticaret [BIST:DOAS] said it has reached an agreement with auto makers Volkswagen and Audi to set up a wholly-owned unit in Iraq for the distribution of their vehicles.
The new company, D-Auto Limited Liability Company, will engage in the import, distribution and after-sale services for Volkswagen and Audi vehicles in Iraq, Dogus Otomotiv said in a statement to Borsa Istanbul on Friday.
D-Auto will have an initial capital of 150 million Iraqi dinars ($128,800/98,900 euro).
(1 euro = 1,516 Iraqi dinars)