Inchcape, the independent multi-brand automotive distributor with global scale, agreed to acquire Autolider, the distributor of Mercedes-Benz passenger and commercial vehicles in both Uruguay and Ecuador, for £47m. "This transaction represents a significant milestone in the development of our core higher margin, capital light Distribution business utilising some of the proceeds realised through recent Retail-only disposals in Australia, China and the UK. We are strengthening our presence in a region with attractive growth prospects and further value creation opportunities, adding Daimler brands to a strong and balanced existing brand partner set of BMW, Subaru, Hino, Suzuki and JLR. I am particularly pleased that our OEM Partner of Choice focus has again demonstrated Inchcape's value as a distributor, this time to Daimler, a key OEM partner." Stefan Bomhard, Inchcape Group CEO.