Cofinpar has divested its subsidiary Sonama, the largest Volvo dealership network in the region, to Mobicore as part of its strategy to focus on core business areas.
Information on the Target
Cofinpar has recently sold its subsidiary Sonama, which operates as a prominent Volvo dealership network. Sonama is recognized as the largest Volvo dealership group in the region, reflecting its significant position in the automotive retail sector. This divestment marks a strategic move by Cofinpar to streamline its operations by focusing on its core competencies in real estate and financial holdings.
Prior to the sale of Sonama, Cofinpar had already divested its automotive retail branches by selling SOGALUX, a major Mercedes dealership group in the South of Belgium, to CarAvenue and RCM in 2021. This strategic decision showcases Cofinpar's commitment to refocus on its core business areas while capitalizing on the potential of their automotive retail assets.
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Industry Overview in Belgium
The vehicle manufacturing industry in Belgium plays a vital role in the national economy, characterized by a strong presence of international automotive manufacturers. The country is home to several major production plants,
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