The Office for the Protection of Competition (ÚOHS) has started assessing the purchase of a group of companies engaged in the sale of Hyundai and Mazda cars by the Czechoslovak Group industrial holding.
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This follows from a notice published on the Office’s website. The holding company informed about the purchase of six companies in May this year, but the transaction is subject to permission from the Office.
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The Office deals with trade in the so-called simplified procedure, so it should issue a decision within 20 days. “The proposed merger takes place mainly in the areas of retail sales of new and used passenger cars, light commercial vehicles and motor vehicles, servicing, maintenance and repair of passenger cars and light commercial vehicles, wholesale and retail sale of spare parts and car accessories, vehicle financing and car rental financing. , light commercial vehicles and motor homes, “reads the announcement of the Office.
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The acquisition includes Hyundai Centrum Praha, which is the largest seller of Hyundai cars in the Czech Republic, Hyundai Centrum České Budějovice ranks fourth among three dozen Hyundai dealerships and the third company, Car Star Praha, which was established in 2017, is the second most important seller. Mazda cars on the Czech market. The group is complemented by the sale and rental of motorhomes under the Car-Star brand and three companies that rent real estate, Car Star Immo, Car Star Fleet and Whare factory. The companies from the group in 2018 achieved a turnover of 1.7 billion crowns.
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CSG’s portfolio includes the production and sale of engineering products for the automotive, railway, aerospace and watchmaking industries, as well as the production of special vehicles, off-road trucks, weapons and weapon systems and ammunition. The holding companies employ more than 8,000 people and in 2017 generated revenues of CZK 25 billion.
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