Grupo Magna has acquired a 100% stake in Zenex Auto, a multi-brand automotive operator in Uruguay, enhancing its market presence and operational capabilities in the region.

Target Information

Zenex Auto, also known as Zenex, is a prominent multi-brand automotive operator based in Uruguay. The company has established itself as the exclusive distributor for Mazda and has been actively selling Kia and Fiat vehicles for over 20 years. Zenex has distinguished itself in the local market through its focus on after-sales service and a strong commitment to quality, thus securing a significant position in the competitive automotive landscape.

Industry Overview in Uruguay

The automotive industry in Uruguay has experienced notable growth in recent years, benefiting from increasing consumer demand and a stable economic environment. With inflation levels at historic lows and attractive equity risk premiums, the market is viewed as an appealing destination for both local and foreign investors. This favorable economic climate has led to heightened interest in mergers and acquisitions within the sector.

The presence of various established automotive brands in Uruguay, alongside a growing middle class, has contributed to the expansion of the market. The demand for both new and