(RTTNews) - Inchcape Plc (INCH.L), a multi-brand automotive distributor and retailer, Thursday said it has agreed to acquire German automaker Daimler AG's (DDAIF.PK) Mercedes-Benz passenger car and private vans distribution operations in Colombia. The business is currently operated by Daimler Colombia S.A.
The transaction enterprise value is currently undisclosed.
In Colombia, Inchcape will become the Mercedes-Benz distributor of passenger cars and private vans, adding to its Subaru, Hino and JLR operations.
In November last year, Inchcape announced its agreement to acquire Autolider, the distributor of certain Daimler brands such as Mercedes-Benz passenger and commercial vehicles, Freightliner and Fuso in Uruguay and Mercedes-Benz passenger and commercial vehicles in Ecuador.
The company said in a statement, "This acquisition represents Inchcape's 12th Distribution business win since 2016 and highlights the compelling proposition Inchcape can provide to OEM partners. It follows the Retail-only disposals announced this year which will generate c.£250m of proceeds on completion."
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