Latest Automotive Acquisitions News

Peter Warren Automotive’s planned acquisition of Wakeling Automotive hits a regulatory and timing impasse as vendors refuse to extend the deal’s Sunset Date despite ACCC application adjustments.

Peter Warren Automotive has withdrawn its initial ACCC application for the Wakeling Automotive acquisition, opting to submit a fresh Phase 1 proposal with remedies to secure regulatory approval.

The ACCC has moved Peter Warren Automotive’s acquisition of Wakeling Automotive’s 30 dealership sites into a Phase 2 review amid concerns it could dominate Sydney’s Macarthur region new car market, controlling 25 of 33 dealerships locally.

Connexion Mobility Ltd has agreed to acquire Hallam Road Automotive in a A$5 million deal expected to immediately lift earnings per share by up to 35% and reduce exposure to foreign exchange fluctuations.