Mercedes-Benz South Africa Limited announces Sandown Motor Holdings’ proposed disposal of its own retail operations to the Motus Group Limited
Mercedes-Benz South Africa Limited (MBSA) is pleased to announce the proposed disposal of the passenger car business of its Gauteng West own retail operations, as well as a portion of commercial vehicle business, in Sandown Motor Holdings (Pty) to the Motus Group Limited. Sandown Motor Holdings (Pty) Ltd (SMH) is a wholly-owned subsidiary of MBSA.
The proposed disposal of SMH forms part of MBSA’s implementation of Project FOCUS, which resulted in the spin-off of Daimler Truck AG. The rationale for the spin-off was to enable Mercedes-Benz Group AG and Daimler Truck AG greater entrepreneurial flexibility and agility, the independence to focus on its strategic direction in respect to electric mobility transformation, improved customer centricity and to unlock their full potential.
Commenting on the proposed disposal, Co-CEO Mercedes-Benz Cars and Executive Director of Mercedes-Benz South Africa, Mark Raine said: “MBSA’s proposed sale of Sandown Motor Holdings is the next logical step in the growth of our company. A simplified corporate structure will enable MBSA to focus on the next phase of the company’s growth premised on customer centricity and the future focus of passenger cars of Mercedes-Benz, Mercedes-AMG, Mercedes-Maybach and Mercedes-EQ brands.”
The proposed disposal will be the SMH passenger car business of its Gauteng West own retail operations, as well as a portion of commercial vehicle business. These dealerships will include Mercedes-Benz Sandton, Mercedes-Benz Constantia Kloof, Mercedes-Benz Bryanston and a single commercial vehicles dealership in Roodepoort.
The sale of SMH remains subject to conditions precedent that must be fulfilled by MBSA and the Motus Group. The transaction is also subject to the approval from relevant competition and regulatory authorities.