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BRIEF-Eurosports Global Says Relinquishment Of Alfa Romeo Distributorship

Reuters SG
Updated

Oct 4 (Reuters) - EuroSports Global:

* RELINQUISHMENT OF ALFA ROMEO DISTRIBUTORSHIP SINGAPORE

* UNIT INFORMED ALFA ROMEO MANUFACTURER, FIAT AUTO S.P.A. OF INTENTION TO RELINQUISH EXISTING IMPORTATION & DISTRIBUTION DEAL

* DECISION MADE IN VIEW GROUP HAS BEEN UNABLE TO ACHIEVE COMMERCIAL VIABILITY OF DISTRIBUTORSHIP DUE TO PREVAILING MARKET CONDITIONS

* RELINQUISHMENT IS NOT EXPECTED TO HAVE ANY MATERIAL FINANCIAL IMPACT ON EPS OF CO FOR CURRENT FY

* AS OF OCT 4, GROUP IN MIDST OF NEGOTIATING WITH MANUFACTURER ON MUTUAL TERMINATION AGREEMENT Source text for Eikon: Further company coverage: