I.A. Hedin Bil has closed the deal to acquire five additional Mercedes-Benz dealerships in Belgium
After approval from the Belgian Competition Authorities, the acquisition of five Mercedes-Benz dealerships around Antwerp was finalized. This means that Hedin Bil, through the brand Hedin Automotive, is present at twelve locations in Belgium.
In April, we successfully took over the operations of seven Mercedes-Benz dealerships in Ghent. At the same time, we entered an agreement to acquire five dealerships around Antwerp. I am very happy to announce that the deal was carried through as planned and we are therefore taking the next steps into a very interesting market.
Gothenburg, August 22, 2018
In the beginning of April 2018, it was announced that I.A. Hedin Bil had through its subsidiary, Hedin Belgien Bil AB, entered an agreement with the Belgian company Andries NV to acquire its subsidiaries Eddy Joosen NV, Garage A. Swinnen BVBA, Garage Euromotors NV and Garage Vriesdonk NV.
The transaction, which was conditional upon certain terms and the approval of the Belgian Competition Authorities, has now been carried through. This includes ownership of four full service dealerships and one used-car dealership for Mercedes-Benz passenger cars around Antwerp.
Owner and CEO of Anders Hedin Invest AB, Anders Hedin, said:
-In April, we successfully took over the operations of seven Mercedes-Benz dealerships in Ghent. At the same time, we entered an agreement to acquire five dealerships around Antwerp. I am very happy to announce that the deal was carried through as planned and we are therefore taking the next steps into a very interesting market.
Since April 2018, I.A. Hedin Bil runs seven Mercedes-Benz dealerships in and around Ghent under the brand Hedin Automotive. With this acquisition, Hedin Automotive will operate twelve dealerships in the province East Flanders in Belgium.