SMC's Ramon Ang coming in as majority stakeholder in Asian Carmakers

Business tycoon Ramon S. Ang's has been invited by Asian Carmakers Corp. (ACC), the official importer and distributor of BMW in the country, to buy a majority stake in the company, a deal that could be finalized this July should things run smoothly.

"I have been invited by Governor Alvarez to join the company, but we are finalizing the entry. Siguro within this month," Ang told reporters on the sidelines of the launch of the BMW 5 Series in Taguig City late Tuesday.

Palawan Governor Jose "Pepito" C. Alvarez also serves as chairman of ACC.

Ang declined to elaborate on how much it would cost, as well as how big a stake he was willing to acquire.

"I think, antayin muna. Kasi inimbita lang ako," he said, adding that his entry could be via San Miguel Corp., where he serves as president and COO.

Alvarez said he wanted Ang to be one of the major shareholders of the company.

"They're still evaluating. Basta I want him to be majority," Alvarez said on the sidelines of the same event.

CCA now has an enterprise value of P2 billion.

Alvarez noted that Ang would be a good asset for the company. "The brand needs him, kasi ang dami niyang network," he said.

ACC is one of the top luxury vehicle distributors in the country, with eight dealerships under its portfolio, including Autoallee BMW in Eton Centris (EDSA), Autohaus BMW in Quezon City, Autozentrum BMW in Alabang, Prestige Cars in Makati City, Premier Cars BMW in Pampanga, Autobahn BMW in Bacolod, Autowelt BMW in Cebu, and Premium Motoren BMW in Cagayan de Oro.

ACC President Maricar C. Parco said the company targets to sell 1,000 units this year. — VDS, GMA News