Simpar informs that its subsidiary Original Holding (Automob) has entered into a contract for the purchase of 100% of Hamsi Empreendimentos (Grupo Green), the holding company that controls the operations of Volkswagen, Peugeot and Citröen dealerships of the Green Group, valued at R$ 128 million.
In a statement sent to the Securities and Exchange Commission (CVM), the company says that the acquisition strengthens Automob’s positioning in the light vehicle segment in the city of São Paulo through the addition of 9 stores to Automob’s portfolio — 4 of Volkswagen, 3 of from Peugeot and 2 from Citroen.
The operation will add BRL 418 million to Automob’s gross revenue, totaling BRL 4.6 billion based on 2021, considering the results achieved by UAB Motors1, Sagamar, Autostar1 and Grupo Green1, which have not yet been incorporated. in Automob’s results.
The Green Group was valued at R$128 million in Enterprise Value, which, considering the transaction’s net debt of R$29 million, resulted in an Equity Value of R$99 million.
The payment will be made 80% in cash and 20% in shares issued by Automob, which will result, after the completion of the Transaction, in a joint interest of the Saddi Family, current shareholders of the Green Group, equivalent to 1.62% share capital from Automobile
According to the company, Mauro Saddi and Marcelo Saddi, shareholders and executives of the Green Group, will continue to contribute to operational development and advice on strategic moves.
Simpar recalls that the closing of the transaction is subject to the fulfillment of obligations and conditions precedent that are usual for this type of operation, including the approval of the Administrative Council for Economic Defense (Cade) and the consent of the automakers.
The company also clarifies that, as it was carried out through Automob, the transaction does not depend on the deliberation of the company’s general meeting, according to art. 256 of Law No. 6,404/1976, nor will it give rise to the right of withdrawal for its shareholders.
Strategy
Adding the announced acquisitions to Automob’s existing business, the combined company would have sold a volume of 31,000 vehicles in 2021, with an average ticket of BRL 154,000 for new vehicles and BRL 73,000 for used vehicles.
The combined company would have the following unaudited figures based on 2021: BRL 4.6 billion in gross revenue, BRL 338 million in Ebitda and BRL 190 million in adjusted net income.
Source: CNN Brasil
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