Kosmocar Expands with MAN Hellas Acquisition
Deal News | Feb 20, 2025 | CEE Legal Matters
Kosmocar, a prominent automotive company helming the importation and services of brands such as Volkswagen, Audi, and Lamborghini in Greece, has successfully acquired MAN Hellas Truck & Bus. The strategic expansion underscores Kosmocar's intention to diversify and consolidate its market position within the commercial vehicle domain. Bernitsas Law Firm played a pivotal advisory role in this acquisition, also achieving a phase 1 merger clearance from the Hellenic Competition Commission. The legal team, guided by partners and a consortium of associates at Bernitsas, ensured a seamless transaction, reflecting on the wider competitive landscape's emerging trends in Greece's automotive sector.
Sectors
- Automotive
- Legal Services
Geography
- Greece – Kosmocar operates as the official importer and dealer of several vehicle brands in Greece, and MAN Hellas is based in Greece, making it the central geography for this transaction.
- Cyprus – Kosmocar also operates as a Ducati motorcycle distributor in Cyprus.
Industry
- Automotive – Kosmocar is involved in the import, sales, and repairs of several major automotive brands, and MAN Hellas is a manufacturer of trucks and buses. This transaction signifies activity within the automotive industry.
- Legal Services – The involvement of Bernitsas Law Firm highlights the participation of legal advisory services in facilitating this acquisition and obtaining regulatory approvals.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Kosmocar | Buyer | Company | The official importer and dealer for several major automotive brands in Greece, including Volkswagen and Audi. |
| MAN Hellas Truck & Bus | Target | Company | A manufacturer of trucks and buses that operates within Greece. |
| Bernitsas | Legal Advisor | Company | A law firm that advised Kosmocar on the acquisition of MAN Hellas and handled the phase 1 merger clearance. |