Major car company buys 13 dealerships for R745 million from its own directors in South Africa

• CMH is acquiring 13 properties used by its dealerships from three executive directors and their associated family trusts for R745 million.
• The transaction involves six properties in KwaZulu-Natal and seven in Gauteng, with CMH funding the acquisition using R395 million of existing cash resources and a R350 million bank loan.
• The deal is subject to shareholder approval and must meet certain conditions precedent, including approval by the Competition Authorities, as it involves related-party transactions involving executive directors.