Croatian pharma producer JGL completes 53 mln euro investment project
Turkey's Makyol wins 382 mln euro tender to build motorway section in Romania
Kosovo's electricity output rises in July
Bosnia's Serb Republic seeks concessionaires for 180 MW solar plants
Bosnia's share indices close mixed in week ended Sept 22
Oct 02, 2019 09:39 EEST
October 2 (SeeNews) - US-based automotive parts distributor LKQ Corporation said that it has merged its subsidiary Auto Kelly Bulgaria with Elit Kar, keeping only 20% equity interest in the combined business.
"We believe the Auto Kelly Bulgaria business will perform strongly under the leadership of Elit Kar, and we look forward to a successful partnership, as both an equity holder and supplier," Dominick Zarcone, president and chief executive officer of LKQ, said in a statement on Tuesday.
You can subscribe to our M&A newsletter here
The combined business, which will continue to operate under both the Elit Car Group and Auto Kelly brand names, will acquire parts from LKQ's aftermarket supply chain, the company noted.
No further details were disclosed.
LKQ Corporation is a leading provider of alternative and specialty parts to repair and accessorize automobiles and other vehicles, with operations in North America, Europe and Taiwan. In Europe, the company is present in 21 countries, employing more than 27,000 people and serving 700,000 customers through its network of 1,100 branches.
You have run out of free articles this month.
Sign up in for
and get two (2) free articles more per month or sign up for
and get unlimited access.
Browse our free newsletter options