Eighteen years after setting up the business, Herbert Stein isselling AutoItalia, one of the importers boasting the biggestnumber of brands in the portfolio, to Israel's Mediterranean CarAgency.
The official move came several days after ZF had written aboutthe sale of the group to the Israeli company, a deal that in linewith market sources revolved around 20m euros. The exact value ofthe deal has not been communicated either by Herbert Stein, or theofficials of Mediterranean Car Agency. Ori Lehav only said "it'sabout millions of euros, though below 100m euros".
At yesterday's event, Ori Lehav talked about restructuring stepsand sales tripling by 2015, to 7,000-10,000 units, while Stein wasstill less confident in the rebound of the domestic market.
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