- 13.12.2010, 12:46:44
- /
- OTE0004
EANS-News: Delticom AG acquires a majority stake in Tyrepac Pte Ltd
--------------------------------------------------------------------------------
Corporate news transmitted by euro adhoc. The issuer/originator is solely
responsible for the content of this announcement.
--------------------------------------------------------------------------------
Hanover (euro adhoc) - Hanover, Germany, 13 December 2010 - Delticom AG (ISIN
DE0005146807, ticker symbol DEX), Europe´s leading online tyre retailer, today
announced the acquisition of a majority stake in Singapore-based Tyrepac Pte
Ltd, Asia´s First Tyre Portal, for an undisclosed amount in cash. The
transaction is structured as a capital increase at Tyrepac.
Tyrepac provides consumers in Asia a central platform to buy tyres online. The
webshops allow easy comparison of tyre brands, patterns, and prices. In
addition, the company operates a growing network of service partners who stand
ready to fit the tyres. Since its foundation in 2008 Tyrepac has expanded into
Malaysia, Hong Kong, China, and South Korea.
Delticom AG currently operates more than 100 online shops in Europe and North
America. "The transaction is an important building block in our long-term Asian
strategy", says Rainer Binder, CEO of Delticom. Starting from Tyrepac´s credible
brand and proven track record, the joint venture will help Delticom to reach
into new high-growth, emerging markets.
"The cash investment into Tyrepac will be used to accelerate sales and to fund
expansion plans", explains Ler Hwee Tiong, co-founder and Managing Director of
Tyrepac. Support will also come from the strong Delticom balance sheet. Tyrepac
is expected to benefit from the parent company´s operational experience, but
will retain its localised go-to-market approach. Over the course of the next
months both teams are going to work closely together to integrate their systems
and processes.
Further inquiry note:
Delticom AG Investor Relations
Melanie Gereke
Brühlstraße 11
30169 Hannover
Tel.: +49 (0)511-936 34-8903
Fax: +49 (0)89-208081147
e-mail: melanie.gereke@delti.com
end of announcement euro adhoc
--------------------------------------------------------------------------------
company: Delticom AG
Brühlstraße 11
D-30169 Hannover
phone: +49 (0)511 93634 8903
FAX: +49 (0)511 336116 55
mail: info@delti.com
WWW: http://www.delti.com
sector: Electronic Commerce
ISIN: DE0005146807
indexes: SDAX, CDAX, Classic All Share, Prime All Share
stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin,
Stuttgart, Düsseldorf, München
language: English
OTS-ORIGINALTEXT PRESSEAUSSENDUNG UNTER AUSSCHLIESSLICHER INHALTLICHER VERANTWORTUNG DES AUSSENDERS - WWW.OTS.AT | CNE






