EANS-News: Delticom AG acquires a majority stake in Tyrepac Pte Ltd
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Mergers - Acquisitions - Takeovers
Hanover (euro adhoc) - Hanover, Germany, 13 December 2010 - Delticom AG (ISIN DE0005146807, ticker symbol DEX), Europe´s leading online tyre retailer, today announced the acquisition of a majority stake in Singapore-based Tyrepac Pte Ltd, Asia´s First Tyre Portal, for an undisclosed amount in cash. The transaction is structured as a capital increase at Tyrepac.
Tyrepac provides consumers in Asia a central platform to buy tyres online. The webshops allow easy comparison of tyre brands, patterns, and prices. In addition, the company operates a growing network of service partners who stand ready to fit the tyres. Since its foundation in 2008 Tyrepac has expanded into Malaysia, Hong Kong, China, and South Korea.
Delticom AG currently operates more than 100 online shops in Europe and North America. "The transaction is an important building block in our long-term Asian strategy", says Rainer Binder, CEO of Delticom. Starting from Tyrepac´s credible brand and proven track record, the joint venture will help Delticom to reach into new high-growth, emerging markets.
"The cash investment into Tyrepac will be used to accelerate sales and to fund expansion plans", explains Ler Hwee Tiong, co-founder and Managing Director of Tyrepac. Support will also come from the strong Delticom balance sheet. Tyrepac is expected to benefit from the parent company´s operational experience, but will retain its localised go-to-market approach. Over the course of the next months both teams are going to work closely together to integrate their systems and processes.
end of announcement euro adhoc --------------------------------------------------------------------------------
Further inquiry note:
Delticom AG Investor Relations
Melanie Gereke
Brühlstraße 11
30169 Hannover
Tel.: +49 (0)511-936 34-8903
Fax: +49 (0)89-208081147
e-mail: melanie.gereke@delti.com
Branche: Electronic Commerce
ISIN: DE0005146807
WKN: 514680
Index: SDAX, CDAX, Classic All Share, Prime All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Stuttgart / free trade
Düsseldorf / free trade
München / free trade
Original-Content von: Delticom AG, übermittelt durch news aktuell