PRESSRELEASE | All press releases
01 March 2002 14:42 CET
Scania to sell Din Bil Sverige AB
Scania has agreed to sell Din Bil Sverige AB to Volkswagen AG of Germany. The transaction can be completed after examination and approval by the competition authorities concerned.
The divestment of the car importer is part of Scania’s strategy of concentrating its operations on commercial vehicles. The task of dividing Scania’s formerly common sales and service network for cars and commercial vehicles has now been completed. Earlier this year, Scania made a similar agreement to sell its 50 percent shareholding in the Swedish importer Svenska Volkswagen AB to Volkswagen AG.
Din Bil Sverige AB includes Volkswagen, Audi, Seat and Skoda as well as Porsche dealerships in the major metropolitan regions of Stockholm, Gothenburg and Malmö-Helsingborg. Its operations employ about 1,200 people and the company accounts for about one third of the sales of these car makes in the Swedish market.
The approval of the sale by Scania’s Board of Directors was preceded by a financial fairness opinion provided by ABN-Amro Bank.
The purchase price is about SEK 450 million. Scania’s capital gain amounts to about SEK 300 m.
For further information, please contact:
Hans-Åke Danielsson, Scania Business Communications, tel +46-8 5538 5662, mobile +46-70 346 8811