Businessman Ramon Ang is expected to sign an agreement this month to acquire a majority stake in Asian Carmakers Corp., the exclusive importer and distributor of BMW vehicles in the Philippines.
“I have been invited by [Palawan] Governor Jose ‘Pepito’ Alvarez to join the company. We are finalizing the entry, maybe this month,” Ang, the president of San Miguel Corp., told reporters during the launch of BMW 5 Series in Taguig City Tuesday night.
ACC is a wholly-owned Filipino company under the Alvarez Group of Companies chaired by Alvarez.
Alvarez told reporters they were still finalizing the transaction. “I want him to be majority [owner]. I want him to take it all but he wants me to stay,” Alvarez said.
“He is a good man into a good brand. The brand needs him because of his huge network,” Alvarez said.
Alvarez said he was willing to sell more than 50 percent of ACC to Ang. He did not give the value of the transaction, but the enterprise value of ACC is P2.5 billion.
BMW has the widest dealership network in the luxury vehicle segment in the Philippines, with eight fill service dealer facilities nationwide. These are AutoAllee BMW in Eton Centris, North Edsa; Autohaus BMW in Quezon City; Motor Ventures BMW in Alabang; Prestige Cars BMW in Makati; Premier Cars BMW in Pampanga; Autobahn BMW in Bacolod; Autowelt BMW in Cebu; and Premium Motoren BMW in Cagayan de Oro.
ACC also has a growing motorcycle business with BMW Motorrad. Its network currently includes four dealers including BMW in Quezon City, Premier Cars BMW in Pampanga, Autobahn BMW in Bacolod and Premium Motoren in Cagayan de Oro.
ACC is supported by BMW Group AG through its regional office in Singapore, BMW Asia Pte. Ltd.