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AutoWallis enters the automotive online sales market

AutoWallis purchased 100 percent of the shares of Net Mobilitás Zrt., which operates the JóAutók.hu and Autó-Licit.hu portals, the company announced on the BÉT website on Friday.

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The seller is the majority owner of AutoWallis, a subsidiary of Wallis Asset Management (WAM) Zrt., WAM Immobilia Ingatlanutilizótó és Üzemeltető Zrt., and Car Alliance Kft.

According to the announcement, the fixed purchase price of Net Mobilitás Zrt.'s 100 percent stake was HUF 320 million, and the variable (earn out) portion was HUF 480 million.

The purchase price is equalized by AutoWallis with its own share. The fixed purchase price will be set at the closing of the transaction, and the variable part will be set at a price of HUF 97.93 per share (the average stock exchange price of the last 30 calendar days) in the next two years if the designated business goals are achieved.

According to the company's announcement, the acquisition fits well into its strategy, which aims to make AutoWallis the dominant car trade and mobility service provider in the East-Central European region by the end of the decade.

With the acquisition, AutoWallis strengthens the ongoing development projects, taking advantage of the cooperation opportunities within the company group.

They announced: with the acquisition, they also tried to respond to the changing distribution needs.

JóAutók.hu is the first verified used car marketplace, and since 2017 it has been a dominant and dynamically growing player in the Hungarian online car trade market.

Auto-Licit.hu is a fleet-independent vehicle auction website that has been operating for more than 12 years.
The AutoWallis Group, which is present in 14 countries of the Central and Eastern European region, closed the year 2021 with a record profit of HUF 3.242 billion with sales revenue of HUF 194.956 billion. In 2020, it recorded a loss of HUF 679.331 million with sales revenue of HUF 88.412 billion.

AutoWallis is listed in the premium category of the Budapest Stock Exchange, the company's shares closed at HUF 101 on Friday, their exchange rate has fluctuated between HUF 83 and HUF 128 in the past year.

(Source: autokalauz.co.hu; MTI | Image: pixabay.com)

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  • car sales ()

Remember: it's just a game! (x)

Remember: it's just a game! (x)

The player protection website of LVC Diamond Kft., which operates Las Vegas Casinos and the Vegas.hu online gambling and sports betting platform, has been renewed, ezcsakjatek.hu. Visitors to the site can now test themselves to see if gambling is really just a game for them.
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