Tuhu agrees conditional A$403m acquisition of mycar’s Australian network
Tuhu has agreed to buy Continental’s Australian mycar tyre and auto service chain in a conditional A$403 million transaction that remains subject to local approvals.
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Tuhu moves to buy mycar network
Tuhu-W said on 24 September 2026 that its indirect wholly owned subsidiary Tuhu Car (Hong Kong) Limited had signed a share sale agreement to conditionally acquire Conti Trade Australia Pty Ltd, the Continental AG subsidiary that owns and operates mycar Tyre & Auto in Australia. The announcement, as reported by Sina Finance and Tyre News, described the deal as conditional rather than completed and said it still requires Australian regulatory approval, including competition and foreign investment clearances. Automotive World likewise said the transaction needs regulatory approval before completion. 5371
Deal terms and funding
The agreed enterprise value for the target group is A$403 million, or about HK$2.25 billion, according to Sina Finance, Tyre News, NewTimeSpace and Sohu. Tyre News said Tuhu’s filing estimates the cash payment at completion at A$278.33 million after adjustments for net debt and working capital, while NewTimeSpace and Sohu gave the same figure as an estimated completion payment of about A$278.33 million and noted that it remains subject to post-completion adjustment. Tuhu said the acquisition is expected to be funded through internal cash and acquisition financing, with bank credit approval of up to RMB1 billion. 5716
What changes hands
The target business runs the mycar Tyre & Auto network, which Sina Finance said comprises 279 stores in Australia and Tyre News and BigGo both described as a 279-store network. Automotive World and Investing.com rounded that figure to around 280 stores, but the company-specific store count reported in the announcement coverage was 279. The same reports said more than 1,600 staff will transfer with the business, and Tyre News said the target generated revenue of A$524.7 million in 2025, up from A$491.8 million in 2024. 5732
Continental’s continuing role and wider context
Automotive World and Tyre News said Continental will remain a distribution partner selling tyres through mycar after completion, alongside its own Australian sales organisation, meaning the ownership change does not end Continental’s local route to market. Tyre News also placed the transaction in context by noting Continental originally bought the chain in 2018, when it was then called Kmart Tyre and Auto Service, and later renamed it mycar. Tyre News cautioned against comparing the old purchase price directly with the current enterprise value, because the deal bases and the business itself have both changed. 374
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7 cited pages across 7 websites
- Role not assessed 7
Website breakdown
- automotiveworld.com1 page
- finance.biggo.com1 page
- finance.sina.com.cn1 page
- investing.com1 page
- newtimespace.com1 page
- sohu.com1 page
- tyrenews.co.uk1 page
7 cited pages with an undocumented publisher role. Websites may share ownership or repeat the same reporting.
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- TUHU-W (09690.HK): To Buy Australia's mycar Chain for A$403MRole not assessedSource extract saved
Why these labels?TUHU-W (09690.HK): To Buy Australia's mycar Chain for A$403M
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We have not documented this publisher’s role. An unassigned label is not a negative rating.
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Cited in 2 paragraphs: Tuhu moves to buy mycar network; Deal terms and funding.
This describes its use in our report. It does not establish the source’s editorial stance or independently corroborate every claim.
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Text retrieved 25 Sept 2026. The retained extract did not reach our text limit. Extraction can still omit page content.
- TUHU Car Acquires Australia's Largest Tire Chain mycar for ...Role not assessedSource extract saved
Why these labels?TUHU Car Acquires Australia's Largest Tire Chain mycar for ...
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We have not documented this publisher’s role. An unassigned label is not a negative rating.
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Cited in 1 paragraph: What changes hands.
This describes its use in our report. It does not establish the source’s editorial stance or independently corroborate every claim.
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Text retrieved 25 Sept 2026. The retained extract did not reach our text limit. Extraction can still omit page content.
- Continental sells mycar Tyre & Auto to China's TuhuRole not assessedSource extract saved
Why these labels?Continental sells mycar Tyre & Auto to China's Tuhu
Who produced it
We have not documented this publisher’s role. An unassigned label is not a negative rating.
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Cited in 3 paragraphs: Tuhu moves to buy mycar network; What changes hands; Continental’s continuing role and wider context.
This describes its use in our report. It does not establish the source’s editorial stance or independently corroborate every claim.
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Text retrieved 25 Sept 2026. The retained extract did not reach our text limit. Extraction can still omit page content.
- Continental sells Australian auto retail unit to Tuhu for $250m By Investing.comRole not assessedSource extract saved
Why these labels?Continental sells Australian auto retail unit to Tuhu for $250m By Investing.com
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We have not documented this publisher’s role. An unassigned label is not a negative rating.
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Cited in 1 paragraph: Continental’s continuing role and wider context.
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Text retrieved 25 Sept 2026. The retained extract did not reach our text limit. Extraction can still omit page content.
- 途虎-W（09690）拟收购澳洲汽车服务连锁mycar，股价收盘 ...Role not assessedSource extract saved
Why these labels?途虎-W（09690）拟收购澳洲汽车服务连锁mycar，股价收盘 ...
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We have not documented this publisher’s role. An unassigned label is not a negative rating.
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Cited in 3 paragraphs: Tuhu moves to buy mycar network; Deal terms and funding; What changes hands.
This describes its use in our report. It does not establish the source’s editorial stance or independently corroborate every claim.
Evidence record
Text retrieved 25 Sept 2026. The retained extract did not reach our text limit. Extraction can still omit page content.
- 途虎－W(09690)公告及通告- [须予披露的交易] ...Role not assessedSource extract saved
Why these labels?途虎－W(09690)公告及通告- [须予披露的交易] ...
Who produced it
We have not documented this publisher’s role. An unassigned label is not a negative rating.
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Cited in 1 paragraph: Deal terms and funding.
This describes its use in our report. It does not establish the source’s editorial stance or independently corroborate every claim.
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Text retrieved 25 Sept 2026. The retained extract did not reach our text limit. Extraction can still omit page content.
- Continental Agrees A$403m Sale of mycar to TuhuRole not assessedSource extract saved
Why these labels?Continental Agrees A$403m Sale of mycar to Tuhu
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We have not documented this publisher’s role. An unassigned label is not a negative rating.
How this report uses it
Cited in 4 paragraphs: Tuhu moves to buy mycar network; Deal terms and funding; What changes hands; Continental’s continuing role and wider context.
This describes its use in our report. It does not establish the source’s editorial stance or independently corroborate every claim.
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Text retrieved 25 Sept 2026. The retained extract did not reach our text limit. Extraction can still omit page content.
Keep reading
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TUHU announces conditional A$403 million bid for mycar owner Conti Trade Australia
TUHU Car (Hong Kong) Limited has agreed a conditional purchase of Conti Trade Australia, owner of mycar Tyre & Auto, in an A$403 million deal awaiting Australian approvals.
