Friday, December 21, 2007
Inchcape confirms Russian expansion
Inchcape has completed its acquisition of a 75.1% shareholding in Audi and Peugeot retail businesses in St Petersburg, Russia.
Further to an announcement on October 4 2007, Inchcape has confirmed its 75.1% shareholding in OOO Concord, a Peugeot retail business, and OOO Orgtekhstroy, an Audi retail business.
Inchcape is also investing £13m in the expansion of its Toyota Rustavelli site and the relocation of its current Lexus retail centre to a new flagship site in St Petersburg.
Andre Lacroix, Inchcape group chief executive, said: “We are excited about this further expansion into the fast growing Russian market as well as the opportunity to work with brand partners Toyota, Lexus, Audi and Peugeot in St Petersburg.”
DATED: 21.12.07
FEED: AM
Further to an announcement on October 4 2007, Inchcape has confirmed its 75.1% shareholding in OOO Concord, a Peugeot retail business, and OOO Orgtekhstroy, an Audi retail business.
Inchcape is also investing £13m in the expansion of its Toyota Rustavelli site and the relocation of its current Lexus retail centre to a new flagship site in St Petersburg.
Andre Lacroix, Inchcape group chief executive, said: “We are excited about this further expansion into the fast growing Russian market as well as the opportunity to work with brand partners Toyota, Lexus, Audi and Peugeot in St Petersburg.”
DATED: 21.12.07
FEED: AM
