$284 miilion UK takeover of Panama car dealership

The  Rodelman Group, exclusive representative in Panama and Costa Rica of the Suzuki brand, and others. has been acquired by Inchcape, a UK  company with global distribution of multiple car brands, for  $284 million.

“Inchcape’s portfolio and its presence in Latin America have been considerably reinforced, and I’m excited about the future opportunities presented by this operation, ” said  Stefan Bomhard, CEO of the group.

The company had already started an expansionist project in South America, with the acquisition of distributors in Chile, Peru, Colombia, and Argentina.

Suzuki is distributed in Panama by Japanese Motors. Rodelman serves five branches of the brand, three of them in the capital of the country and the other two in La Chorrera and David, Chiriquí. The Panamanian automobile sector contracted by at least, 14% in 2017, and there are whispers of possible sales of other distributors.

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