It looks like Sapura Auto is exiting the business of selling BMWs and MINIs in Malaysia and are selling their showroom and land to Sime Darby Motor Division. A Bursa Malaysia filing popped up today detailing a Property Sale Agreement between Sime Darby Motor Division Sdn Bhd (which operates the Auto Bavaria dealerships) and Sapura Auto Sdn Bhd where the former will acquire a piece of freehold land together with the 3.5 year old showroom and aftersales facilities for RM49,054,503 cash.
It’s not a done deal yet of course as it is subject to the necessary approvals by the Prime Minister’s Department’s Economic Planning Unit and the shareholders of Sapura Resources Berhad. The transaction is expected to be complete by the end of this year.
Once done, Sapura’s sole Jalan Tun Razak showroom will become an Auto Bavaria showroom. Suddenly it makes sense why Auto Bavaria shut down and moved their Bukit Bintang showroom to Glenmarie earlier this year.
Source: Bursa Malaysia