The Hungarian automotive trading company AutoWallis Plc. has informed its investors on the website of the Budapest Stock Exchange that it intends to acquire a 100% stake in the holding company MILAN KRÁL HOLDING of the Czech Republic, for which it has submitted a request for preliminary approval to the Czech competition authority.
MILAN KRÁL HOLDING a.s. is the central holding company of the MILAN KRÁL Group. The group is active in the sale and servicing of four brands (BMW, Mercedes-Benz, Mercedes-Benz Truck, Ford), Opel brand service, used car sales under its own brand and a separate locksmith and polishing business in the city of Ceské Budejovice in the southern region of the Czech Republic.
AutoWallis Plc. would like to draw the attention of its investors to the fact that the sale and purchase agreement with the owner of MILAN KRÁL HOLDING a.s. is still in preparation and the company will inform investors of its conclusion without delay. The closing of the transaction will be subject to the approval of the Czech competition authority and other closing conditions.
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