Published: 2019-02-07 15:27:17 CET
Modus grupė
Notification on material event

Sale of the “Krasta Auto” companies

The Competition council has approved the deal between “Modus Group” and “Inchcape” regarding the sale of the “Krasta Auto” companies in Vilnius, Kaunas and Klaipeda, which are representing BMW, BMW Motorrad, MINI, and “Rolce Royce” in Lithuania. The transaction was closed on January 31, 2019, and from that day “Krasta Auto”, “Krasta Auto Vilnius”, “Krasta Auto Kaunas”, and “Krasta Auto Klaipeda” became a part of “Inchcape” group.

This completed transaction allows to develop our business at an even higher rate, and to take the automotive business to a next stage. At this moment, we are representing “Porsche”, “Fiat”, “Fiat Professional”, “Alfa Romeo”, “Bentley”, “Jeep” and “Maserati” and etc. brands in Lithuania; “Porsche”, “Seat”, “Hyundai”, “Suzuki”, “Isuzu”, “SsangYong”, FCA group – in Latvia. We will continue to be BMW and MINI importers in Belarus. Of course, we will strive to expand this list – we have a lot of ambitious plans in automotive business, as well as in the fields of renewable energy and mobility. We strive to strengthen the power of these businesses, and invest in things that will be important and relevant tomorrow.

Liudas Liutkevičius, Chairman of ‘Modus Group’ management board

 

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