SIXT New Kopel and AAA AUTO Group decided to join forces on the used car market in Romania and signed a contract about a joint venture today. The newly established company will sell used cars in Romania under the trade mark AAA-New Kopel.

Both companies, SIXT New Kopel and AAA AUTO Group, will cease their current independent operations in Romania and their activities will be developed under the same brand: AAA New Kopel. According to the agreement the companies signed today, SIXT New Kopel will acquire 95% of the newly set up joint venture company, while AAA AUTO Group will hold 5% with an option to increase its stake up to 49%.

“This agreement about a joint venture with SIXT New Kopel comes in the opportune moment, as it will enable AAA AUTO Group to focus its management attention to the group’s core markets while still maintaining its presence in the Romanian market. We are very pleased to have joined forces with a reputable and professional partner, together with whom we will continue our operations in Romania”, stated Anthony James Denny, CEO of AAA AUTO Group.

“Used car sales services are an integral part of the business of SIXT New Kopel in Romania and we are pleased to join forces with a partner who has a vast experience and know-how in this field. I truly believe that it should further improve the services we are offering”, stated Dudy Perry, CEO of SIXT New Kopel.

“I believe SIXT New Kopel and AAA AUTO together represent a step forward in Shlomo Group’s investments in Romania. We have been active on this market for some time now. This investment will enable us to further build on the expertise and know-how we have gained so far and to pursue our long-term plans we have in Romania”, stated Shlomo Shmelzer, President of Shlomo Group and of New Kopel Romania.