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Sime Darby Berhad

09/11/2019 | Press release | Distributed by Public on 09/11/2019 01:02

Sime Darby Berhad Acquires Three Trivett Dealerships in Sydney for AU$112 million

Sime Darby Berhad announced today that its subsidiary, Sime Darby Motors (Australia) Pty Limited has entered into binding agreements with Trivett, the automotive retail unit of Inchcape Australia Limited to acquire the business assets and properties of three car dealerships representing the BMW, MINI, Volkswagen, Jaguar and Land Rover marques in the suburb of Parramatta in Sydney.

The deal adds Volkswagen, Jaguar and Land Rover to Sime Darby Berhad's list of marques in Australia, managed by its Motors Division, Sime Darby Motors. It represents all five marques in the other markets it operates in.

'The proposed investment is aligned to Sime Darby Motors' strategy to expand via mergers and acquisitions, targeting the retail luxury and super luxury segments, particularly in large markets like Australia. The addition of these dealerships to our existing Porsche Parramatta operations will expand our scale in the retail luxury business at one of Sydney's most recognised automotive retail locations.'

'Following close on the heels of Sime Darby Berhad's announcement on the purchase of the trans-Tasman Gough Group, this acquisition shows the Group's long-term commitment to investment in Australasia,' said Patrick McKenna, Managing Director of Sime Darby Motors Australia and New Zealand.

The acquisition will be funded by bank borrowings and is subject to the approval of the Foreign Investment Review Board of Australia. It is expected to be completed in early December 2019.

For further information, please contact:

Tan Yee Pheng
Head, Group Communications
Sime Darby Berhad
Tel: +6019 381 6330
Email: [email protected]

Dean Crow
Head of Marketing
Sime Darby Motors New Zealand
Tel: +64 9 526 6946 / +64 21 904 684
Email: [email protected]