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Bilia sells Ford operation in Gothenburg and Stockholm

in Gothenburg and Stockholm

Gothenburg, Sweden, 2016-03-11 14:40 CET (GLOBE NEWSWIRE) --

Bilia has concluded an agreement to sell the Ford operation in Gothenburg,
Kungsbacka and Stockholm to Hedin Bil. The agreement is conditional on approval
by the Swedish Competition Authority. The date of possession will be 1 May 2016
for the operation in Gothenburg and Kungsbacka and latest at the end of year
2017 for the operation in Stockholm. The purchase price is calculated to about
SEK 90 M and the profit before tax to SEK 30 M, of which
SEK 22 M will be accounted for in the second quarter of 2016 and remaining
profit of SEK 8 M during 2017. The transfer includes a lease contract for a
facility in Gothenburg and assets and liabilities which are connected to the
Ford operation at the current locations.

Per Avander, Bilia’s Managing Director and CEO, comments:

”It’s gratifying to our staff at the Ford operation at the facilities in
question and to the Ford customers that we have been able to carry out the deal
with Hedin Bil, which is a stable and successful dealership chain in Sweden.”

Anders Hedin, Hedin Bil’s CEO, comments:
”It’s gratifying to grow with Ford in Gothenburg and Stockholm. We look forward
to a continued good cooperation with Ford’s customers and staff.”

Gothenburg, 11 March 2016

Bilia AB (publ)

For further information, please contact Per Avander, Managing Director
and CEO, or
Gunnar Blomkvist, CFO, Bilia AB, tel: +46 31 709 55 00.

Författare SSE

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