Toyota Caetano Portugal, S.A. acquired 61.9% stake in CaetanoBus, S.A. and 49% stake in Finlog - Aluguer e Comércio de Automóveis, SA from Salvador Caetano Industria S.A. and Salvador Caetano Industria S.A. for €39.1 million
December 16, 2020
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Toyota Caetano Portugal, S.A. (ENXTLS:SCT) acquired 61.9% stake in CaetanoBus, S.A. and 49% stake in Finlog - Aluguer e Comércio de Automóveis, SA from Salvador Caetano Industria S.A. and Salvador Caetano Industria S.A. for €39.1 million on December 17, 2020. As per the transaction, Toyota Caetano Portugal, S.A. acquired 61.94% stake in CaetanoBus, S.A. from Salvador Caetano Industria S.A. for €16.3 million while 49% stake in Finlog - Aluguer e Comércio de Automóveis, SA from Salvador Caetano Auto SGPS SA €22.3 million.
Toyota Caetano Portugal, S.A. (ENXTLS:SCT) completed the acquisition of 61.9% stake in CaetanoBus, S.A. and 49% stake in Finlog - Aluguer e Comércio de Automóveis, SA from Salvador Caetano Industria S.A. and Salvador Caetano Industria S.A. on December 17, 2020.
Toyota Caetano Portugal, S.A. specializes in assembling and distributing light and heavy vehicles. Net sales break down by activity as follows:
- sale of vehicles (86.9%): light and commercial vehicles (98.6% of net sales) and heavy vehicles (1.4%) primarily marketed under the Toyota and Lexus brand names;
- sale of spare parts and accessories (10.3%);
- rental and sale of industrial equipment (2.2%);
- other (0.6%).
Net sales are distributed geographically as follows: Portugal (83.6%), Belgium (12.9%), Africa (3.4%) and other (0.1%).
Toyota Caetano Portugal, S.A. acquired 61.9% stake in CaetanoBus, S.A. and 49% stake in Finlog - Aluguer e Comércio de Automóveis, SA from Salvador Caetano Industria S.A. and Salvador Caetano Industria S.A. for €39.1 million