MADRID, April 5 (Reuters) - Spanish privately owned

logistics group Berge has dropped plans to list shares in its

automotive unit Astara as market conditions are not the most

appropriate for a flotation, the company said late Thursday.

Newspaper Expansion reported last year that

family-controlled Berge had hired Morgan Stanley ( MS ), BNP

Paribas and HSBC ( HSBC ) as advisers to list Astara.

Astara, a network of car dealerships in 19 countries in

Europe, Latin America and Asia, booked 5.2 billion euros ($5.6

billion) in revenues and 306 million in earnings before

interest, taxes, depreciation and amortisation (EBITDA) in 2023,

it said.

"We will continue to focus on our strategy of growth and

international expansion and on creating value for our

shareholders and stakeholders," said Jaime Gorbena, chairman and

CEO of Berge in a company statement.

($1 = 0.9240 euros)