Mobility services provider Autonom takes over Tiriac Group's operating lease arm

Romanian mobility services provider Autonom Services announced that it signed an agreement to acquire Tiriac Operating Lease, the operating leasing division of the Tiriac Group.

The Enterprise Value indicator is estimated at over EUR 40 mln, including the company's net debt, Autonom said in a note to investors at the Bucharest Stock Exchange (BVB). The final takeover value will be adjusted at the date the transaction is completed. The buyer will pay the purchase price entirely from its own sources.

Autonom will acquire 100% of the share package held by Molesey Holdings Limited (a Cyprus-based vehicle owned by Ion Tiriac) in the share capital of Premium Leasing, operating under the brand name Tiriac Operating Lease.

The completion of the transaction is conditional on obtaining the agreement of the Competition Council.

Through this step, Autonom will increase productivity and turnover, strengthen its position on the Romanian operational leasing market and significantly exceed the threshold of 10,000 cars.

Last week, Romania's largest financial group Banca Transilvania reached an agreement to take over the leasing company Tiriac Leasing IFN. The seller was Molesey Holdings Limited, while Hyundai Auto Romania holds a stake.

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