PETALING JAYA: Hap Seng Consolidated Bhd has agreed to acquire the commercial vehicle business of Mercedes-Benz Malaysia Sdn Bhd for an undisclosed sum.
“The proposed acquisition enables the Hap Seng group to participate in the wholesale distribution of the Mercedes-Benz and Fuso commercial vehicles in the growing market in Malaysia,” it said in a filing with Bursa Malaysia yesterday.
Hap Seng is an authorised dealer of Mercedes-Benz cars, with six Autohaus showrooms in the Klang Valley, Kota Kinabalu and Kuching.
The acquisition, the company said, would further strengthen the group’s presence as a player for both passenger cars and commercial vehicles in Malaysia.
Under the business transfer agreement, Hap Seng will take over the businesses of selling and after-sales service of Mercedes-Benz-branded buses and Fuso-branded trucks, vans and related OEM spare parts in Malaysia.
It will also run the operations of Mercedes-Benz Malaysia commercial vehicle training centre.