Hedin and Stern in discussions on merging their respective automotive operations
Anders Hedin Invest AB and Stern Groep N.V., the Dutch listed automotive group, are in exclusive discussions on merging their respective automotive operations, including I.A. Hedin Bil AB (publ). The combination of Hedin and Stern will have strong complementarity in terms of geographic focus and brands. In addition, the combined group will be very well positioned to play a leading role in the expected ongoing consolidation of automotive retailers in the Eurozone.
Gothenburg, January 30th, 2020
The automotive industry faces numerous trends and developments which will eventually have great impact on the mobility of individuals and the way they are used to purchase and use cars. This requires automotive retailers all over Europe to reconsider their value to customers and rethink their current business model. To find the right answer to these developments, automotive retailers are looking for new knowledge and complementary competencies. Moreover the car market is becoming an international market. Hedin and Stern believe that joining forces is the best way forward.
At this stage there can be no assurance that the merger will materialise. After the merger, the combination intends to retain and use the Euronext Amsterdam listing as a platform for further growth.
Further announcements will be made if and when circumstances so require.
I.A. Hedin Bil AB
(publ)
For further information:
VD: Anders Hedin, anders.hedin@hedinbil.se, T +46(0)31 790 00 00
Media: press@hedinbil.se
The information in this press release is information which I.A. Hedin Bil AB is required to disclose under the EU Market Abuse Regulation (EU) No 596/2014. The information was provided by the contact person for publication on the 30th of January at 08:00 CET. I.A. Hedin Bil Aktiebolag (publ) Box 2114, 431 02 Mölndal.
About Hedin
The Hedin automotive operations are one of the largest family-owned automotive groups in the Eurozone, offering full service for private and corporate customers since 1985. Financing, service and insurance are some of the components of the total offer. Hedin retails vehicles of 32 leading brands – including both brands matching Stern such as Mercedes-Benz, Renault, Nissan, Ford, Land Rover, Kia and Opel, as well as unique brands such as BMW, Mini and Porsche – including passenger cars, commercial vehicles, and trucks. The company also offers car accessories, and tires and tire services; aftermarket and financing services; and insurance products. Hedin is represented in more than 125 locations with more than 3,600 employees in Sweden, Norway, Belgium, Switzerland and Germany and is headquartered in Mölndal, Sweden.
About Stern
Stern is a large Dutch automotive group that has been listed on Euronext Amsterdam since 2000. Stern offers a wide variety of car brands and additional mobility services. Dealergroup Stern represents several leading brands such as Mercedes-Benz, Renault, Nissan, Ford, Volvo, Land Rover, Kia and Opel. In addition Stern is engaged in services including leasing, rental, insurance, finance and extended warranties, (brand-certified) car body repair and in-vehicle equipment for commercial vehicles. The company currently has 75 branches with approximately 1,700 employees (FTE) in relevant areas of The Netherlands.
Tags: