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NewsSime Darby in RM236m deal to boost motor biz presence in Australia (Update)
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Sime Darby in RM236m deal to boost motor biz presence in Australia (Update)
by hlk Mon 02 Dec 2013, 21:47
KUALA LUMPUR: Sime Darby Bhd’s unit is buying stakes in two automobile related companies in Australia to expand its presence and also acquiring three properties there for a total of A$80.69mil (RM235.34mil).
Sime Darby said on Monday its unit Sime Darby Motors Wholesale Australia Pty Ltd had entered into a conditional share and unit sale deed with to acquire a 70% equity stake in LMM Holdings Pty Ltd and 70% of units in the Brisbane BMW Unit Trust (BBUT) for A$22.69mil (RM66.48mil)
Sime Darby Motors Wholesale Australia also entered into property sale and purchase agreements to acquire three properties for A$58mil (RM169.86mil) which are necessary for the operations of the businesses
LMMH is a private company. As trustee of the BBUT, LMM effectively operates BBUT’s BMW, MINI and Lamborghini motor dealership businesses in Brisbane, Australia.
LMMH also has a unit, Brisbane Bodyshop Pty Ltd, which operates the business of BMW parts, panels and accessories.
BBUT is a trust which owns the BMW, MINI and Lamborghini motor dealership businesses in Brisbane.
Sime Darby said on Monday its unit Sime Darby Motors Wholesale Australia Pty Ltd had entered into a conditional share and unit sale deed with to acquire a 70% equity stake in LMM Holdings Pty Ltd and 70% of units in the Brisbane BMW Unit Trust (BBUT) for A$22.69mil (RM66.48mil)
Sime Darby Motors Wholesale Australia also entered into property sale and purchase agreements to acquire three properties for A$58mil (RM169.86mil) which are necessary for the operations of the businesses
LMMH is a private company. As trustee of the BBUT, LMM effectively operates BBUT’s BMW, MINI and Lamborghini motor dealership businesses in Brisbane, Australia.
LMMH also has a unit, Brisbane Bodyshop Pty Ltd, which operates the business of BMW parts, panels and accessories.
BBUT is a trust which owns the BMW, MINI and Lamborghini motor dealership businesses in Brisbane.
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