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)