ASG Melbourne Pty Ltd, which is a subsidiary of Autosports Group Ltd
(ASX:ASG), has entered into a deal to purchase several luxury vehicle businesses in Victoria.
These include Doncaster BMW, Buindoora BMW, BMW Motorrad Doncaster, BMW Motorrad Bundoora, Doncaster Mini Garage, Alpina Australia, Alpina Victoria and Evolution Financial Services.
Autosports expects this acquisition will cost around $46 million, and be funded by a combination of cash and debt.
This deal is also subject to a number of conditions – including approval by BMW Australia Financial Services.
Autosports sees this acquisition as a way to consolidate its move into the Victorian market (which commenced in August 2016), and its first opportunity to represent the BMW, Alpina and Mini.
