MOTODYNAMICS to acquire 100% of LION RENTAL S.A.
MOTODYNAMIKI proceeded today to the signing of a preliminary agreement for the acquisition of 19.5% of the share capital of LION RENTAL.
Since the end of 2018, MOTODYNAMIKI owns 80.5% of LION RENTAL. The transaction, which is subject to terms and conditions, is expected to be completed in the coming months with the price set at EUR 7.7 million. LION RENTAL’s turnover in 2022 amounted to EUR 43.4 million and profit after tax to EUR 7 million.
The Chairman and Chief Executive Officer, Mr. Paris Kyriacopoulos stated: “Today, MOTODYNAMIKI is progressing towards the completion of an investment, the first step of which took place four years ago. Since the end of 2018 and until today, we have repositioned SIXT in the Greek market, focusing on the excellent service of our customers, the development of our people and the development of our products and services. In a dynamic and evolving environment, we continue to strive consistently and passionately to strengthen SIXT’s leading position in the market.”
A few words about MOTODYNAMICS :
MOTODYNAMICS S.A. is the dealer of YAMAHA MOTOR Co. Ltd. in Greece, Romania and Bulgaria, and of PORSCHE AG and SIXT GmbH & Co in Greece. It is also involved in the retail sale of Yamaha products through the Motodiktio, while representing major brands of accessories for the rider. Listed on the Athens Stock Exchange since 2005, MOTODYNAMICS currently has more than 300 employees. Its turnover rose to EUR 132 million in 2022. For more information, visit: https://protect-eu.mimecast.com/s/W6XgC9p5rtRwG0BgtEm76C0?domain=motodynamics.gr
A few words about LION RENTAL:
It is the exclusive dealer of SIXT GmbH & Co in Greece. With a presence in 18 locations in Greece, it provides services in the broader vehicle rental market, covering both short-term and long-term rental.