Approved · Waiver · decided in 24 days, 23 Oct 2026
International automotive service network TUHU Car (Hong Kong) Limited is acquiring 100% of Conti Trade Australia Pty Ltd via a share sale. This marks its entry into the Australian automotive service and repair market, gaining mycar Tyre & Auto's 279 national locations.
TUHU Car (Hong Kong) Limited ( Tuhu ), via a special purpose vehicle, proposes to acquire 100% of the issued share capital in Conti Trade Australia Pty Ltd ( Conti Trade Australia ), a wholly owned subsidiary of Continental Global Holding Netherlands B.V. (the Acquisition ). TUHU Car Inc. is the guarantor for Tuhu’s obligations under the share sale and purchase agreement. Tuhu is a Hong Kong Stock Exchange listed company that operates an automotive service network in China, Hong Kong, Malaysia and the United States. Tuhu combines its offline physical workshops with online portals which manage customer service, inventory and supply chains, and workshop operations. Tuhu (including its connected entities) does not have any operational presence in Australia. Conti Trade Australia holds owns 100% of the issued share capital in Tyre and Auto Pty Ltd, which trades as mycar Tyre & Auto ( mycar ) – the former Kmart Tyre & Auto Service. mycar is a tyre, automotive service and repair business, operating in approximately 279 locations across Australia. There are mycar sites in all Australian states and territories.