<\/p>\n
The Competition Tribunal has unconditionally approved a transaction that will see JSE-listed Super Group acquire a Chery Omoda & Jaecoo dealership in Mbombela, Mpumalanga.<\/p>\n
The deal involves Super Group Dealerships, a division of Super Group Trading, taking over the motor dealership business currently operated by Stucky Motors Multi-Franchise. Following the transaction, Super Group will assume sole control of the dealership.<\/p>\n
Read\/listen:
SA\u2019s new vehicle sales hit 20-year high, but fuel price spike could dampen demand
China\u2019s Chery plans multi-billion-rand car plant at old Nissan Rosslyn site
New look Super Group\u2019s rock-solid balance sheet<\/p>\n
ADVERTISEMENT<\/p>\n
CONTINUE READING BELOW<\/p>\n
Super Group operates across the automotive value chain, including the sale of new and used passenger vehicles, light and heavy commercial vehicles, as well as parts, accessories and aftermarket services. In Mbombela, the group already runs several dealerships, including Foton, Jaguar Land Rover and Jetour.<\/p>\n
The target business operates a single dealership in Mbombela, selling new and used passenger vehicles under the Chery, Omoda and Jaecoo brands. It also provides parts, vehicle financing and servicing.<\/p>\n
The tribunal did not impose any conditions on the transaction.<\/p>\n
ADVERTISEMENT:<\/p>\n
CONTINUE READING BELOW<\/p>\n
Super Group\u2019s share price<\/p>\n
* Likho Mbuka is a Moneyweb intern.<\/p>\n
#Tribunal #clears #Super #Groups #Chery #dealership #acquisition #Mbombela<\/p>\n","protected":false},"excerpt":{"rendered":"
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