The acquisition of FASA, which owns Panamotor, Bavarian Motors, Hertz, Infiniti, MINI and Lifan, will be completed in two months after the relevant corporate approvals.

An article in Prensa.com notes that "FASA closed last quarter of its fiscal year in September with revenues of $218.9 million, an increase of 15.6% compared to the previous fiscal year, which amounted to $189.3 million, as explained in the Annual Update Report. Its net profit was $20 million, an increase of 149%, but this was due to non-recurring income from the sale of land that gave the group $10.2 million. Without this gain, they would have had a net income of $10.8 million, 34.7% more than in fiscal year 2010. FASA has about 3.8 million worth of issued and outstanding shares, which yesterday closed at 24 dollars on the Panama Stock Exchange, 75 cents less than their value in September when news of the transaction became known. "

Source: Prensa.com

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