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| The Pub For General Automotive Related Talk |
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13-08-2018, 11:12 AM
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FF.Com.Au Hardcore
Join Date: Dec 2004
Location: Central Q..10kms west of Rocky...
Posts: 8,307
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"Wesfarmers has agreed to sell its Kmart tyre and auto services business to German automotive supplier and tire manufacturer Continental for $350 million.
The owner of Bunnings and Coles chains says it will report a pre-tax profit on the sale of between $270 million to $275 million following completion of the deal. Wesfarmers managing director Rob Scott said the divestment "crystallises value" for shareholders from the business turnaround since KMart tyre and auto services was acquired as part of the Coles Group in 2007." https://www.msn.com/en-au/money/comp...ob-fb-enau-308 My comment : glad its not sold to Ultra Tune.
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CSGhia |
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13-08-2018, 11:31 AM
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B1 - J & D Services
 
Join Date: Aug 2005
Location: Brim, Victoria
Posts: 1,633
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Sad to see it not locally owned, but at least still independent and a competitor.
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Mr. Brett Johnstone.  2002 Ford Laser 2000 Ford Falcon Wagon Egas 1999 Subaru Imprezza Sportwagon 1998 Holden Suburban 2500 1995 Land Rover Discovery TDI 1994 XG XR6 Longreach 1983 Holden Rodeo 1975 Datsun 120Y wagon 1970 MG Midget 1967 Rover 2000TC Soon: Model T. |
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13-08-2018, 11:36 AM
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FF.Com.Au Hardcore
Join Date: Jul 2009
Location: Brisbane
Posts: 1,301
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Wonder if this has anything to do with the financial bath Wesfarmers took on their ill-fated UK Bunnings venture?
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13-08-2018, 11:39 AM
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Moderator
 
Join Date: Jan 2014
Location: Melbourne
Posts: 7,940
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Looks like we are going to be seeing cheaper Continental tyres very soon.
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13-08-2018, 01:39 PM
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FF.Com.Au Hardcore
Join Date: Jul 2012
Posts: 3,878
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Quote:
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Wesfarmers Sells KMart Tyre and Auto for $350m
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