Why it matters: Rich Lister Nick Politis owns 27.6 per cent of ASX-listed Eagers.
Mr Politis, chairman of the Sydney Roosters, is selling privately-owned car dealerships in Victoria to Eagers for $245 million.
The dealerships include large BMW and Mercedes-Benz dealers and three properties.
Rich Lister Nick Politis will pocket $245 million from the sale of some privately owned car dealerships in Victoria to the ASX-listed group Eagers Automotive, in which he has a 27.6 per cent stake.
The dealerships include Essendon BMW and Mercedes-Benz Brighton in Melbourne, and the overall businesses acquired have combined annual revenue of $1 billion. Three properties totalling 53,500 square metres of land are included in the purchase.
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Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
