LONDON (dpa-AFX) - Inchcape Plc (INCH.L), a British automotive firm, on Friday announced a deal to acquire Mercedes-Benz's Indonesian business in a joint venture or JV with Inchcape's local partner, Indomobil.
The financial terms of the deal are not disclosed.
The acquisition, expected to be completed in late 2023, will expand Inchcape's existing distribution footprint in Indonesia, further supporting its growing presence in the APAC region.
Inchcape will acquire 70 percent of the existing Mercedes-Benz subsidiaries based in Indonesia with Indomobil acquiring the remaining 30 percent.
The acquired business is expected to add around 200 million pounds of annualized revenue, and be accretive to the Group's operating margin.
Since 1970, the business has been run by Mercedes-Benz, which includes both distribution and assembly operations.
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