AP Eagers, an SJE Group investment, has received authorisation from the ACCC to acquire the balance of shares in Automotive Holdings Group Limited that it does not already own, subject to an undertaking to divest Kloster Motor Group.
The merger authorisation is expected to come into force on 16 August 2019, provided that no sufficiently interested third parties apply for a limited review of the ACCC’s determination before then.
AP Eagers and AHG are the two largest automotive retailers in Australia. AP Eagers and AHG supply new and used cars, trucks and buses, as well as associated products and services such as car repairs and servicing, authorised car parts, insurance and finance. Their operations overlap in Brisbane, Melbourne, Sydney and the Newcastle and Hunter Valley region of New South Wales (which includes Cessnock, Maitland/Rutherford, Singleton and Port Stephens).
The SJE Group congratulates Martin Ward and his team for this announcement.