AP Eagers has offered to offload its dealerships in Newcastle and the Hunter Valley in a $54 million deal to ease the competition watchdog’s concerns about its proposed acquisition of rival car dealer Automotive Holdings Group.
AP Eagers said on Friday it has a non-binding agreement to sell Kloster Motor Group to family-owned car dealership Tony White Group by November if the Australian Competition and Consumer Commission approves its takeover of AHG.
The ACCC had said last month that it had preliminary concerns about a merger that would leave one company in control of 46 per cent of new car dealerships in the region.
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