Litocar acquires car retail business of Ascendum

BDO advised Litocar Group in the complete cycle of the buy-side M&A (incl. Financial and Tax Due Diligence) in acquiring Ascendum Auto.

Litocar Group, a € 99 million euro turnover group, key player in the Portuguese car dealership, acquired Ascendum Auto (car dealership, representative of Volvo and Mitsubishi), with concessionaires in Lisbon, Leiria, Viseu and Coimbra, to strengthen its position in the market.