Car market, Estonia, Legislation, Transport

Although several foreign investors have wanted to buy BRC, investments management company and owner of BRC United Partners Investments (UPI) decided to sell a half of the company to Skinest Grupp. The Competition Board today granted permission for consolidation, as the result of which UPI and Skinest Grupp get common governing influence over BRC.

UPI board member Tarmo Rooteman said that the important factor about the choice of partner was that Skinest Grupp is represented at markets that BRC is interested about, for example Byelorussia and Russia. “It is safer from the financial side to go to new markets too. Thus both opportunities and risks are shared,” said Rooteman.

Ossinovski did not reveal the purchase price of the stake. He said that they bought the stake because BRC is Estonia’s largest car dealership with 20 years of history, and a good investment with future.

BRC with is Latvian and Lithuanian subsidiaries is the largest car dealership network in the Baltic states. In 2008 Balti Realiseerimiskeskus OÜ was in Äripäev’s turnover TOP 500, on the 154th place with 604,321 EEK turnover.