Porsche Sydney deal

PORSCHE Cars Australia (PCA) has reached an in-principal agreement with the Lincorp automotive group for the purchase of Porsche Centre Sydney South.

The sale should be finalised by the end of March and, once completed, will enable the factory-owned operation to control its affairs in its most important market alongside Melbourne.

"The purchase of Porsche Centre Sydney South is an ongoing part of our business strategy to stabilise and strengthen Porsche in the Australian market," PCA managing director Michael Winkler said.