In a deal which British Leyland says is worth “a little over £4m”, the group has gained control of a Spanish car firm. The Spanish Government has given permission to buy up more shares in the Authi car building plants in Spain, it was revealed over the weekend.
The deal, which follows those in 1969 which gave British Leyland half the Authi shareholding, will give the group nearly full control. A British Leyland spokesman confirmed yesterday that the purchase price is over £4m, and added that, “We have not heard of authorization being given by the Spanish Government, but, if it has been, then that would give us virtually the whole of the shareholding.”
Authi’s factory is In the northern city of Pamplona, and the aim is to produce 140,000 cars a year by 1977, of which 50,000 would be for export.