S.Africa's CMH buys luxury motor dealerships

Newswire

JOHANNESBURG, Aug 16 (Reuters) - South Africa's Combined Motor Holdings has acquired luxury motor dealerships from Forza Group for between 180 million rand and 220 million rand ($34.03 million) in cash, the firm said on Tuesday. "Such payment range to be dependent upon the Forza Group consolidated profits in respect of its financial year ending 31 August," CMH said. The assets include franchises for the sale of BMW, MINI, Peugeot and Lamborghini products and luxury used vehicle ...

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