Point S/Däckteam partnership is the largest tyre retailer in Sweden
Point S Development’s existing network in Sweden has joined forces with Däckteam to form the largest independent tyre dealer network in the country.
Point S Development’s existing network in Sweden has joined forces with Däckteam to form the largest independent tyre dealer network in the country.
Pirelli & C. S.p.A. is to officially reverse merge with Marco Polo Industrial Holding S.p.A. This transaction will be submitted to the extraordinary shareholders’ meetings on 15 February 2016, with a view to completing during the first half of 2016.
The bidding war for The Pep Boys – Manny, Moe & Jack has entered a new round, with Icahn Enterprises L.P. offering an extra dollar per share to acquire the US automotive aftermarket retail and service network – a total of around US$56 million more than the offer it made earlier this month. This higher figure has found favour with the Pep Boys Board of Directors – after consultation with legal and financial advisors it determined on 20 December that Icahn’s proposal to acquire Pep Boys for US$16.50 per share in cash constitutes a ‘Superior Proposal’.
After determining the US$15.50 per share merger agreement proposed by Icahn Enterprises superior to Bridgestone’s $15.00 a share deal, The Pep Boys – Manny, Moe & Jack gave the tyre maker until 5:00pm (EST) last Friday to return with new and more attractive merger terms. Bridgestone Retail Operations (BSRO) did just that, and the two parties have now amended the terms of the merger agreement originally signed on 26 October.
75 GSF Car Parts (GSF) branches have merged with The Parts Alliance, taking the network to well over 300. 160 of these are under common ownership. Together they give the Solihull-based business group increased coverage in the UK and Ireland.
At the request of Consob, the Italian Securities and Exchange Commission, Pirelli has issued a short statement regarding claims that company chairman Marco Tronchetti Provera is working with an Asian partner with a view to it partially or fully acquiring Pirelli.
33 Unipart Automotive sites were transferred to Andrew Page and The Parts Alliance in a deal that saved 361 jobs. The full list of sites taken on by Andrew Page and the Parts Alliance is published below, while the remaining 147 sites that are currently inactive follow.
With numerous sources reporting that loss-making parts firm Unipart Automotive is just days away from a rescue plan (which you might read as a sales of the company), and with at least three bidders being associated with the deal, fast-growing rival Euro Car Parts could be seen as a front runner. But first a little background. Following the initial news reports Unipart Automotive was close to calling in the administrators on 8 July, a day later minority shareholder Unipart Group clarified its relationship to Unipart Automotive:
In November 2012 Swedish polymer group Hexpol Compounding bought US retreading supplier Robbins LLC with the intention of merging the company into “the Hexpol family”. Roughly 18 months after paying US$89.2 million for the then £100 million a year turnover company, Hexpol reports that the acquisition has strengthened its operations.
Under restructuring measures Bridgestone is undertaking in the Asia region, Bridgestone Asia Pacific Pte Ltd. (BSAP) will expand its area of responsibility to include tyre operations in China. From 1 July, Bridgestone Asia Pacific – henceforth abbreviated to BSCAP – will become the head office in charge of both BSAP and Bridgestone (China) Investment Co. Ltd., the company’s current Chinese head office.
(Brisbane/Australian Tyre Dealer) Two of the best-known names in Australian tyre retailing and associated services have joined forces to become a major power in the business. JAX Tyres was established in 1949 and Quick Fit Tyre Service in 1995, both proudly Australian owned. Combined, they have a current annual turnover of around $100 million.
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