The purchase and sale agreement was signed by the parties in October 2021, but was conditional on the granting of authorisation by the National Markets and Competition Commission (CNMV) and certain authorisations for the operation by the vehicle brands, which is why it was finally possible to execute the operation last month.
The group resulting from the operation, which will be in the hands of the Marcos family, will have a total of 111 sales outlets and workshops for 21 manufacturers’ brands in seven provinces in six different autonomous communities, with an expected combined annual turnover of more than €1 billion.
The two Valencian family businesses, which have more than half a century of history, have had a similar strategy in recent years, opting for concentration in the car sales sector both through the acquisition of other companies and through multi-brand diversification.
López-Ibor abogados advised Grupo Autos Montalt with a team comprising partners Fernando Ramos Barseló and Laureano Beltrán Vila, heads of the Commercial and Tax areas respectively.
