Brief: Eurosports Global Says Relinquishment Of Alfa Romeo Distributorship

Eurosports Global

04/10/2022 15:05

Oct 4 (Reuters) - EuroSports Global  EURO.SI :
    * RELINQUISHMENT OF ALFA ROMEO DISTRIBUTORSHIP SINGAPORE
    * UNIT INFORMED ALFA ROMEO MANUFACTURER, FIAT AUTO S.P.A. OF
INTENTION TO RELINQUISH EXISTING IMPORTATION & DISTRIBUTION DEAL
    * DECISION MADE IN VIEW GROUP HAS BEEN UNABLE TO ACHIEVE
COMMERCIAL VIABILITY OF DISTRIBUTORSHIP DUE TO PREVAILING MARKET
CONDITIONS
    * RELINQUISHMENT IS NOT EXPECTED TO HAVE ANY MATERIAL
FINANCIAL
IMPACT ON   EPS  OF CO FOR CURRENT FY
    * AS OF OCT 4, GROUP IN MIDST OF NEGOTIATING WITH
MANUFACTURER ON
MUTUAL TERMINATION AGREEMENT

Source text for Eikon:  ID:nSNc6xlHJ 
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