Car dealerships in Canberra previously owned by Mr Politis give Eagers a foothold in the ACT, where electric vehicle sales are rising faster.
has topped up his stake in Australia’s largest car dealership group Eagers Automotive as it acquires his privately owned dealerships in the Australian Capital Territory for $193 million.
Rich Lister Nick Politis has topped up his stake in Australia’s largest car dealership group Eagers Automotive.A notice to the ASX on Monday showed he acquired an extra 10,000 shares in Eagers Automotive at $11.3359 on July 15, the same day as shareholders gave the green light to the acquisition of Mr Politis’ ACT dealerships.
Mr Politis, who is the chairman of the Sydney Roosters in the National Rugby League competition, now owns a total of 70.26 million shares in Eagers Automotive, or a stake of 27.3 per cent.Eagers Automotive shares were up about 1.5 per cent on Monday to $11.53 by 11.30am AEDT, but have been sold off heavily in the past nine months, having been at $17.23 in early September last year.and has about 10 per cent of the new vehicle market, with 40 car and truck brands.
The dealerships that come into the Eagers Automotive stable include Canberra Toyota. Other vehicle brands sold by the ACT stable include Ford, VW, Volvo and Subaru.
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