Magna Signs Agreement to Acquire Ixetic for €308 Million

Ország:
Bulgária
Magna Signs Agreement to Acquire Ixetic for €308 Million

ixetic is a manufacturer of automotive vacuum, engine and transmission pumps. The company had full year 2011 total sales of approximately €300 million.

The purchase price payable for 100% of the outstanding shares of ixetic, on a cash-free and debt-free basis, is approximately €308 million, including the effect of the estimated closing adjustments.

This transaction is expected to close in the fourth quarter of 2012, subject to obtaining European anti-trust approval.

Magna International Inc. announced today that it has signed an agreement to acquire ixetic Verwaltungs GmbH with two manufacturing facilities in Germany, and one in each of Bulgaria and China