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Lamborghini dealer EuroSports completes acquisition
LAMBORGHINI car dealer EuroSports Global has completed the acquisition of Ultimate Drive Pte Ltd and Driven by Adrenaline Pte Ltd, which provide short term car rentals of supercars for less than two hours.
The acquisition sum of S$535,000 was funded from proceeds from EuroSports' initial public offering in 2014.
Ultimate Drive will have two business segments under EuroSports. One, the Ultimate Drive Club, will offer one- to three-year memberships at S$12,000 a year. Members will be able to redeem points for drives.
The second, Ultimate Drive Experience, will provide short term supercar rentals to tourists or to locals for special occasions.
Said EuroSports' executive chairman and CEO Melvin Goh: "The concept may be relatively new in this part of the world but I believe that the rising affluence in the region and particularly in Singapore calls for such lifestyle needs to be met.
"Many people desire to drive supercars, to feel the thrill of the engine's horsepower, but they may not be able afford one. UD Club will enable them to fulfil their dream without the financial strain."