(Alliance News) - Sicily by Car Spa on Tuesday announced that it has signed a binding agreement with the shareholders of Nova Gratia d.o.o. and Auto Dalmacija d.o.o., both Croatian companies based in Trogir, Croatia, to purchase 100 percent of the share capital of the two companies.

The deal is highly strategic and allows Sicily by Car to take another step forward in the process of internationalization on a European scale in high value-added countries for both leisure and B2B rentals.

Tommaso Dragotto - president and CEO of Sicily by Car - commented, "After the greenfield entry in Portugal, we are pleased to announce our entry in another European country with a strong tourist vocation such as Croatia."

"The two entities being acquired, Nova Gratia and Auto Dalmacija, thanks to the foresight of the founders who have more than 15 years of expertise in the sector, share with our Group excellence in terms of service quality, fleet sizing and geographical presence," Dragotto concluded.

Sicily by Car trades in the green by 1.1 at EUR5.66 per share.

By Maurizio Carta, Alliance News reporter

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