The Finnish Competition Authority has approved the business deal in which Helsingin VV-Auto Oy acquired the Audi and Volkswagen business operations from Stockmann Auto Oy Ab.
VV-Auto Oy and its retail company Helsingin VV-Auto Oy signed an agreement with Stockmann Auto Oy Ab on the acquisition of the Audi and Volkswagen business operations on 20 January 2006.
The deal covers Stockmann Auto Oy Ab's sales and after-sales services concerning Audi and Volkswagen in Espoo, Helsinki and Vantaa. The deal also includes the Audi property in Espoo and the Volkswagen property in Vantaa.
VV-Auto Group, which is owned by Kesko Corporation, is engaged in import and retail trade and has 360 employees. In the acquisition made, 300 employees transfer to VV-Auto Group under their previous conditions. VV-Auto Oy imports Volkswagen, Audi and Seat passenger cars and Volkswagen commercial vehicles. Its subsidiaries, Turun VV-Auto Oy and Helsingin VV-Auto Oy, are engaged in retail trade.
Information about the acquisition was given in a stock exchange release on 20 January 2006.
Further information isavailable from VV-Auto Oy's President Pekka Lahti, tel. +358 9 75831.
Senior Vice President, Corporate Communications
Helsinki Stock Exchange
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