Automotive
Sime Darby purchases 70% stake in Australian car dealer
Malaysian conglomerate Sime Darby Bhd announced that it has agreed to purchase a 70% stake in Australian car dealer Brisbane BMW Unit Trust and LMM Holdings Pty Ltd for AUD22.7 million (USD20.75 million).
Investment group revives Saab 9-3 production after bankruptcy filing
After more than two years since it filed for bankruptcy due to lack of cash and halting production, Swedish car automaker Saab AB via its parent company National Electric Vehicle Sweden (NEV) AB started making cars today.
Cevian buys 25 million A-shares in Volvo, raises stake to 10.5% of votes
Stockholm-based private equity firm Cevian Capital on Monday announced its acquisition of 25 million A-shares in truck manufacturer Volvo. The purchase brought Cevian's ownership to 68.7 million A-shares and 29.8 million B-shares.
Industry insider prediction spot-on as Hertz-Dollar Thrifty deal fails
A Bloomberg recounted how the Federal Trade Commission's decision to approve the USD2.3 billion buyout deal by Hertz Global Holdings Inc of Dollar Thrifty Automotive Group Inc was a mistake.