Merilampi represented Kesko Corporation’s subsidiary VV-Auto Group Oy in relation to its acquisition of the entire share capital in Oy Autocarrera Ab. The company being acquired is responsible for importing and retailing Porsche automobiles in Finland.
The car trade is one of Kesko’s strategic growth areas. The acquisition expands VV-Auto’s cooperation with Volkswagen AG. Currently VV-Auto is responsible for the import of Volkswagen, Audi, SEAT and MAN and it operates as a significant car retailer at its own outlets in the Greater Helsinki area and Turku. The addition of Porsche to the selection will increase sales and improve the profitability of the car trade.
The completion of the acquisition is subject to the approval of the competition authorities and the fulfilment of the other terms and conditions of the transaction. The acquisition is estimated to be completed in 2016.