Multibrand global automotive distributor Inchcape Plc has acquired a controlling stake into CATS Group of Companies, the leading distributor of luxury vehicles in the Philippines.
Inchcape yesterday announced it has also entered into a joint venture agreement with CATS.
The deal is expected to close in the second half of the year.
CATS’ founding Ang family will retain the remaining 40 percent of the company and will continue to be represented on the board by Felix Ang, and management team.
CATS is the distributor of Mercedes-Benz, Chrysler, Jeep, Dodge, Ram, Jaguar and Land Rover and has dealerships for Mazda and Harley Davidson Motorcycles.
Singapore-based Inchcape APAC distributes new vehicles and parts in Australia, Brunei, Hong Kong, Indonesia, Guam, Macau, New Zealand, Saipan, Singapore and Thailand for a large portfolio of OEM brands: Toyota Motor Corporation, Subaru, Suzuki, Jaguar Land Rover, BMW Group, Chevrolet, Great Wall Motor, Peugeot Citroen, Harley-Davidson, Daimler Trucks and Buses, Hino and other commercial vehicle partners.
