Thursday, August 31, 2006
Inchcape drives further into Russia
Inchcape has expanded further into the Russian market by acquiring a majority stake in the Axel Car Toyota and Lexus retail and service business in St Petersburg.
A new Russian company will be established to purchase the goodwill and assets of Axel Car's business with over 75 per cent to be owned by Inchcape.
Earlier this year the group entered into partnership with Russian independent car retail group Independence for the selling and servicing of the Toyota brand in Moscow. Andre Lacroix, group chief executive of Inchcape, said the group now had two strong anchor points in Russia from which to build a profitable scale business.
DATED: 31.08.06
FEED: MT
A new Russian company will be established to purchase the goodwill and assets of Axel Car's business with over 75 per cent to be owned by Inchcape.
Earlier this year the group entered into partnership with Russian independent car retail group Independence for the selling and servicing of the Toyota brand in Moscow. Andre Lacroix, group chief executive of Inchcape, said the group now had two strong anchor points in Russia from which to build a profitable scale business.
DATED: 31.08.06
FEED: MT
