Hedin Mobility Group acquires Stern
| Target: | SternFacilitair B.V. |
| Seller | Stern Groep N.V. |
| Advisory sell side: | ING | Corporate Finance Advisory Van Doorne | Legal Advisory |
| Buyer | Hedin Mobility Group |
| Date announced: | 2022-01-10 |
| Data Room provider | Virtual Vaults |
Story:
The Swedish company Hedin Mobility Group has acquired listed automotive company Stern. Stern's car dealerships, damage repair companies and car rental companies are all sold to Hedin for a total of €103 million. The cash consideration to be paid by Hedin Mobility Group is €83 million. This enables Stern, who is a dealer for brands such as Mercedes and Opel to pay out an extraordinary dividend of a maximum of €14.75 per share. Stern's stake in insurance company Bovemij was not part of the deal. The book value of this interest is currently €19.3 million. With this acquisition, Hedin hopes to take the next step in becoming a pan-European mobility provider. In addition, Hedin and Stern expect to improve the customer experience and loyalty in their automotive industry.