AXA buys 50 percent of Autoricardo.ch - joint offers planned with Tamedia

AXA Winterthur and the Swiss media group Tamedia are joining forces and jointly planning new offers for the Swiss vehicle market. AXA Winterthur is taking a 50 per cent stake in the vehicle platform Autoricardo.ch, which belongs to Tamedia.

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For most buyers, finding the right vehicle is a lengthy process with numerous points of contact. Together, AXA Winterthur and Tamedia want to break new ground, according to a statement. By combining AXA Winterthur's expertise in insurance, mobility and financing with Tamedia's Classifieds know-how and reach, the Swiss vehicle market is to be stimulated with new offers. The companies have agreed on a long-term partnership which, in addition to offers in the area of used cars, will also include further services in the mobility sector. The two partners have agreed not to disclose the financial terms of the transaction.

The transaction is still subject to approval by the Swiss Federal Competition Commission.

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