The Deloitte team led by Philipp Gebhard has successfully advised Mercedes-Benz AG on the divestment of Mercedes-Benz Hellas to Emil Frey Group. Deloitte provided a wide range of services including M&A Advisory (Philipp Gebhard, Niklas Elsmann, Jan Mehlis), Transaction Services (Dennis Tunda, Christian Schock), Tax (Marcus Roth, Thomas Funke, Sophia Oehlmann) and Carve-out assistance (Ihsan Ugurlu, Torsten Schoebel).
Deloitte acted as exclusive financial advisor and factbook provider to Mercedes-Benz AG on the disposal of its general importer Mercedes-Benz Hellas located in Athens, Greece, to the Swiss Emil Frey Group, turning a new page in the target company’s long-standing presence in the country. The change of ownership will allow Mercedes-Benz Hellas to continue under one business roof the operation of Mercedes-Benz Smart, Passenger and Light Commercial Vehicles, as well as Daimler Trucks and Buses.
With Emil Frey Group, Mercedes-Benz Hellas finds an experienced and reliable new shareholder, which is a long-standing partner of Mercedes-Benz AG, offering extensive experience in sale and repair of Mercedes-Benz vehicles in many European markets. Both Mercedes-Benz’s commitment to excellent customer experience as well as the brand’s leading products and services will continue to distinguish Mercedes-Benz as one of the most valuable and admired brands in the Greek market. Closing of the transaction is scheduled for Q1 2023.
Mr. Ioannis Kalligeros, President & CEO of Mercedes-Benz Hellas, said: „We are delighted to become a strategic partner of Emil Frey AG and are committed to supporting and accelerating its continued growth. Emil Frey AG is undoubtedly a leader in the automotive sector, and we are confident that Mercedes-Benz Hellas, as its newest member, will further strengthen its leading position in the luxury segment in Greece and continue to shape trends in the rapidly changing automotive sector.“
Gerhard Schuermann, CEO of Emil Frey Group, said: „We are proud to have been selected as the trusted partner for the distribution in Greece. Together with the experienced staff of Mercedes-Benz Hellas, we are excited to continue its successful track record, grow and further enhance the quality of service for these exceptional high-tech and luxury products.“
Deloitte’s in-depth knowledge of the automotive sector with first-class execution capabilities emphasize its competence to complete a complex and time-critical transaction successfully. Despite the challenges posed by COVID-19 and an international landscape of potential partners, Deloitte provided M&A advice, a Financial Fact Book and extensive support throughout all transaction phases, ensuring a favorable outcome for Mercedes-Benz AG.
About Mercedes-Benz Group
The Mercedes-Benz Group AG (former Daimler AG) is one of the world’s most successful automotive companies. With Mercedes-Benz AG, we are one of the leading global suppliers of premium and luxury cars and vans. Mercedes-Benz Mobility AG offers financing, leasing, car subscription and car rental, fleet management, digital services for charging and payment, insurance brokerage, as well as innovative mobility services.
About Deloitte – Corporate Finance Advisory
As leading independent M&A advisors, we provide M&A deal execution and financial advisory services to large and mid-market corporations as well as to private equity firms globally. We offer financial advice and insight at every stage of a transaction – from consideration of strategic options to transaction execution, be it an IPO, acquisition or divestment, restructuring or fast track disposal. We pride ourselves in our independent advice to our clients.
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