AMA Group Limited divests its FluidDrive business

AMA Group Limited (ASX: AMA) announced that it had signed a Business Sale Agreement with Fluiddrive Pty Ltd to divest its FluidDrive business for a total consideration of AU$2.45 million. The sale of the FluidDrive business follows the divestment of the company’s ACAD businesses, excluding ACM Auto Parts and FluidDrive, in the 2QFY20.

FluidDrive is a prominent service business in the remanufactured automotive transmission market. This sale competes with the earlier announced strategy in 2020 to focus AMA Group on the collision repair and associated parts and consumables business. The company is expected to complete this transaction before 31 October 2022.

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