Mitsubishi Corporation and its subsidiary Mitsubishi Motors Corporation jointly acquired 58% of Rolf Import LLC, the Kommersant reported.
Pursuant to the transaction approved by Russia's Federal Antimonopoly Service in December, Mitsubishi Corporation and Mitsubishi Motors Corporation acquired from Rolf Group 9% in FF Sheffe BV each, the paper's sources informed. FF Sheffe BV owns 100% in Rolf Import LLC. As a result of the transaction, Mitsubishi Corporation's interest increased to 49%, Mitsubishi Motors Corporation became Rolf Import's shareholder holding 9% of its shares, while Rolf Group's interest decreased to 42%.
Rolf Import LLC (Moscow) is principally engaged in the wholesale of motor vehicles. The company is part of Rolf Group.
Rolf Group is a distributer of foreign cars, the official Russian dealer of Mitsubishi, Audi, Ford, Hyundai, Mazda. The company has been active since 1991. In 2007, five new brands Land Rover, Lexus, Renault, Toyota and Volkswagen were added to Rolf's retail portfolio. In 2011, the group sold 125.4 thousand cars (including the sales result of ROLF Import, Mitsubishi's distributor in Russia).
IFRS net profit of Rolf Group for 2011 was RUB 4.4 billion against a net loss of RUB 978 million for 2010. EBITDA rose 2.3-fold to RUB 9.96 billion.
Mitsubishi Motors Corporation is a Japanese automaker, part of Mitsubishi group, Japan's biggest production group headquartered in Tokyo.