AM Online

Balverona ups HR Owen stake

Balverona, the Australian wholesale vehicle company, has increased its stake in HR Owen. It now holds 22.06% of the voting rights to the company, compared to 20.18% previously.

On November 5, Balverona acquired 100,000 shares for 50p each, bringing its total holding to 5,209,696.

Balverona is a £285 turnover car wholesaler in Australia. Its subsidiaries, Ateco and European Automotive Imports are Australia’s and New Zealand’s national distributors for Alfa Romeo, Fiat, Ferrari, Maserati and Citroen.

The company was rumoured to have been the anonymous bidder for HR Owen, which pulled out of talks for the dealership last week.

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