AUSTRALIA – Automotive Holdings Group (ASX:AHG) has confirmed that it is in negotiations to acquire the distribution rights for Higer buses in Australia.
In a disclosure to the Australian Stock Exchange (ASX), Automotive Holdings Group (ASX:AHG) said it has entered exclusive negotiations to acquire the business from the administrator.
The current distributor WMC was recently placed into voluntary administration.
“AHG has had an association with Higer as an import partner to WMC and, with a number of new products being brought to the market, we see significant growth potential in the brand,” said AHG Managing Director Bronte Howson.
Automotive Holdings Group (ASX:AHG) is seeking to acquire the distribution rights for Higer Australia from the administrator.
“Higer produces a range of quality buses that are suitable for the local market as we build the brand’s reputation and sales. The outcome will also benefit existing and future customers of Higer in Australia,” Howson disclosed.
Automotive Group Holdings Limited is a diversified automotive retailing and logistics group with operations in Australia and New Zealand.
The Company is an automotive retailer, with operations in Western Australia, New South Wales, Queensland and Victoria.
Automotive Holdings Group Limited (ASX:AHG)’s stock was trading flat in the morning session on the Australian Stock Exchange after three days of decline. – BusinessNewsAsia.com