Autobacs Seven Co., Ltd. cancelled the acquisition of 70% stake in Audioxtra International Pty Ltd.
October 28, 2019
Share
Autobacs Seven Co., Ltd. (TSE:9832) agreed to acquire 70% stake in Audioxtra International Pty Ltd on October 29, 2018. Autobacs will acquire 10.4 million shares of Audioxtra. Post completion, Audioxtra International Pty Ltd will operate as subsidiary of Autobacs Seven Co., Ltd. Completion is expected on October 31, 2018.
Autobacs Seven Co., Ltd. (TSE:9832) cancelled the acquisition of 70% stake in Audioxtra International Pty Ltd on October 29, 2018.
Autobacs Seven Co Ltd is a Japan-based company primarily engaged in the retail and wholesale of automobile products, the purchase and sale of vehicles, the provision of vehicle inspection and maintenance services, as well as the loan credit business. The Company operates in four segments. The Domestic Autobacs segment is engaged in the wholesale of car products and the leasing of store facilities. The Overseas segment is engaged in the sales of car accessories, the provision of installation service and the maintenance of cars to general consumers. The Car, Dealers and B-to-B segment is engaged in the sales of imported cars, the purchase of used cars and the sales of the cars to second hand car dealers and others. The Others segment is engaged in the leasing business to domestic franchise chain affiliates.
AUTOBACS SEVEN CO., LTD. 
