Dacia and Yugo to merge in UK
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• Dacia and Yugo are merging their UK operations following the acquisition of dominant stakes in Dacia Concessionaires and Yugo importers. Zastava by Paul Stoddart, the Australian entrepreneur.
He acquired an 80% stake in Dacia in February and plans to increase his current 46.23% holding in Zastava to 60% by the end of the year.
Vehicle and parts distribution, and pre-delivery preparation and inspection of Yugo and Dacia vehicles are to be combined, and Dacia's head office will move to Reading, near to the Yugo-base.
Stoddart spent 21.6 million on shares in Dacia and £2 million in March on Zastava, working through Burntwood Development, a holding cornpony in which he controls an 80% stake.
Yugo sold 8,458 of its 311 and 45 model range last year, but the firm aims to increase sales to 11,000 units in 1988.