Group di­vests Peu­geot and Citroen busi­nesses to Inch­cape and Rick Arm­strong Mo­tor ef­fec­tive June 1

New Straits Times - - Business - KUALA LUMPUR

SIME Darby Bhd has reached an agree­ment to sell its car dis­tri­bu­tion com­pa­nies in Aus­tralia and New Zealand. These com­pa­nies im­port and dis­trib­ute Peu­geot, Citroen and DS car brands in the two mar­kets.

Sime Darby said the in­di­rect wholly-owned sub­sidiaries of Sime Darby Mo­tors had yes­ter­day en­tered into as­sets sale agree­ments with the re­spec­tive par­ties for the dis­posal of as­sets re­lat­ing to Peu­geot and Citroen busi­nesses there.

The ac­quir­ers are Inch­cape Aus­tralia for the Aus­tralian busi­ness and the Rick Arm­strong Mo­tor Group for the New Zealand busi­ness.

It is ex­pected that ef­fec­tive June 1, these com­pa­nies will take over the Aus­tralasian dis­tri­bu­tion for the PSA brands.

Sime Darby Mo­tors man­ag­ing di­rec­tor for Aus­tralia and New Zealand, Pa­trick McKenna, said: “Af­ter care­ful con­sid­er­a­tion, a de­ci­sion was reached to di­vest the Aus­tralasian dis­tri­bu­tion busi­nesses. This is in line with Sime Darby Mo­tors’ strat­egy to fo­cus on the ex­pan­sion of its re­tail car and com­mer­cial truck foot­prints on both sides of the Tas­man.

“Once the de­ci­sion was made, ac­count­ing firm KPMG was en­gaged to con­duct a full ten­der process for the sales on our be­half.”

McKenna said through­out the sale process, it had been the group’s pri­or­ity to en­sure that the vast ma­jor­ity of its em­ploy­ees in both coun­tries would be of­fered em­ploy­ment un­der their ex­ist­ing terms and con­di­tions.

“I would like to ac­knowl­edge this ter­rific group of peo­ple and wish them well in the fu­ture.”

Sime Darby Mo­tors is a lead­ing player in the re­tail, dis­tri­bu­tion and as­sem­bly busi­nesses in the Asia-Pa­cific re­gion, with a strong pres­ence span­ning 10 coun­tries.

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