Hedin Mobility Group becomes co-owner of Mercedes-Benz Financial Services Slovakia
Hedin Mobility Group intends to acquire 25% of Mercedes-Benz Financial Services Slovakia to widen its establishment in Central and Eastern Europe.
MÖLNDAL, SWEDEN, 25 May 2022 –– Hedin Mobility Group AB (publ) has reached an agreement with Motor-Car Wiesenthal & Co. Spol. s.r.o. to acquire their entire shareholding in Mercedes-Benz Financial Services Slovakia s.r.o. (“MBFS”). The transaction is subject to approval by MBFS’ majority shareholder and relevant authorities. Through the intended transaction, Hedin Mobility Group would own 25 percent of the shares in MBFS.
MBFS provides a comprehensive range of automotive financial services to all Mercedes-Benz dealerships in Slovakia. This includes innovative leasing and financing options for both dealerships and end customers, as well as insurance.
Hedin Mobility Group’s intended investment in MBFS follows the proposed acquisition of Slovakia-based Motor-Car Group that was announced on 19 May 2022, through which Hedin Mobility Group will expand its operations into Central and Eastern Europe.
“This is a logical step as we now enter the Slovak market through Motor-Car, the leading retailer of Mercedes-Benz which is the number one premium brand in the country. It will add additional synergies and revenue potential to our coming operations in Slovakia”, said Anders Hedin, owner and CEO, Hedin Mobility Group.
“The collaboration with MBFS over the past many years has been a fundamental factor in the success of Motor-Car and the Mercedes-Benz brand in Slovakia. We are therefore very pleased that with this agreement the strong collaboration can continue in the years to come”, said Henrik Starup-Hansen, CEO Motor-Car Wiesenthal & Co Spol. s.r.o.
Press contact
Magnus Matsson
PR & Communication Manager, Hedin Mobility Group
+46 31 790 00 82
press@hedinmobilitygroup.com
About Hedin Mobility Group
Hedin Mobility Group is one of Europe's largest privately owned car dealers. The Group employs more than 5,000 people and operates over 200 dealerships in seven countries. Net sales in 2021 was SEK 28.2 billion and the Group sold more than 125,000 vehicles (of which approx. 21,500 are attributable to operations transferred from Hedin Group AB in October 2021).
The Group's portfolio includes approximately 35 car brands, and the company provides full service for both private and corporate customers. The portfolio also includes distribution of Ford and MG in Sweden, Renault, Dacia and Alpine in Sweden and Denmark, and Dodge and RAM in Europe. In addition, the Group's operations include wholesale operations of tires and spare parts, the car rental company Mabi Mobility AB, the private leasing company Car to Go Sweden AB, the corporate leasing company Unifleet AB and co-ownership in Pendragon PLC and iMove AS.
Hedin Mobility Group is part of the Hedin Group together with Tuve Bygg AB and I.A. Hedin Fastighet AB. Hedin Group is also a partner in Consensus Asset Management and Ripam Invest AB, which owns Marstrands Kurhotell, Kurbadhus and Societetshus.