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.
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TUHU announces conditional acquisition of mycar owner
TUHU has announced a conditional move into Australia’s automotive aftermarket by agreeing to acquire Conti Trade Australia Pty Ltd, the owner of mycar Tyre & Auto. According to the 24 September disclosures carried by Sohu and Sina Finance, TUHU’s indirect wholly owned subsidiary, TUHU Car (Hong Kong) Limited, signed a share sale agreement with a Continental AG subsidiary for all of the target’s issued share capital. The deal is announced as conditional, not completed, because it still depends on Australian regulatory approvals and other stated preconditions. 12
Deal terms, valuation and funding
The announcement values the target group at an enterprise value of A$403 million, equivalent to about HK$2.25 billion. After adjustments for net debt and working capital, the estimated cash payment at completion is about A$278 million, or roughly HK$1.55 billion, payable in cash and still subject to post-completion adjustment. TUHU said the purchase would be funded through internal cash and acquisition financing of no more than Rmb1 billion. 12
mycar network scale and operating footprint
The latest deal disclosures say mycar Tyre & Auto is one of Australia’s largest tyre, car service and repair chains and that the network operates through 279 stores nationwide. An earlier ACB News report on 18 September put the network at 280 company-operated stores and said mycar had already serviced more than 30,000 electric vehicles, with about 200 trained technicians. ACB News also reported on 20 August that the brand had 280直营门店 and a large apprentice pipeline, while describing the process as a second-round bidding stage before exclusivity was later reported. 1245
Auction context and seller background
Reuters-style Street Talk reporting in the Australian Financial Review on 17 September said people briefed on the auction believed Hong Kong-listed TUHU had secured exclusivity after weeks of negotiations, ahead of private equity rival Allegro Funds. ACB News reported a day earlier that TUHU had won exclusive negotiations after defeating Allegro Funds, and its 20 August report said the sale had reached binding-bids stage with Allegro Funds, Warburg Pincus and TUHU in the second round. Those reports place the announced acquisition within a contested sale process for a well-established Australian automotive service network. 345
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5 cited pages across 5 websites
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- acbnews.com.au1 page
- afr.com1 page
- finance.sina.com.cn1 page
- m.acbnews.com.au1 page
- sohu.com1 page
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- 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] ...
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Cited in 3 paragraphs: TUHU announces conditional acquisition of mycar owner; Deal terms, valuation and funding; mycar network scale and operating footprint.
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- 途虎-W(09690)：拟2.78亿澳元收购Conti Trade Australia Pty Ltd全部股权Role not assessedSource extract saved
Why these labels?途虎-W(09690)：拟2.78亿澳元收购Conti Trade Australia Pty Ltd全部股权
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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 announces conditional acquisition of mycar owner; Deal terms, valuation and funding; mycar network scale and operating footprint.
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 24 Sept 2026. The retained extract did not reach our text limit. Extraction can still omit page content.
- China's TUHU out-brakes Allegro Funds for Conti AG-owned mycarRole not assessedSource extract saved
Why these labels?China's TUHU out-brakes Allegro Funds for Conti AG-owned mycar
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Cited in 1 paragraph: Auction context and seller background.
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Text retrieved 24 Sept 2026. The retained extract did not reach our text limit. Extraction can still omit page content.
- 途虎养车获得澳洲汽车服务连锁品牌mycar收购交易独家谈判权Role not assessedSource extract saved
Why these labels?途虎养车获得澳洲汽车服务连锁品牌mycar收购交易独家谈判权
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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: mycar network scale and operating footprint; Auction context and seller background.
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Text retrieved 24 Sept 2026. The retained extract did not reach our text limit. Extraction can still omit page content.
- 香港上市公司途虎养车进入澳洲汽修连锁mycar售出交易二轮竞标 - 澳中...Role not assessedSource extract saved
Why these labels?香港上市公司途虎养车进入澳洲汽修连锁mycar售出交易二轮竞标 - 澳中...
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Cited in 2 paragraphs: mycar network scale and operating footprint; Auction context and seller background.
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Text retrieved 24 Sept 2026. The retained extract did not reach our text limit. Extraction can still omit page content.
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