Marcopolo Buys Control of Aussie Busmaker

Marcopolo Buys Control of Aussie Busmaker

Brazil M&A Australia

Brazilian bus body maker Marcopolo has acquired a 75% stake in its Australian counterpart Volgren Australia for AUD52.5m ($52.9m), with additional future earn-out adjustments. The Grenda family that founded Volgren will hold a minority stake in the business, but Marcopolo will retain an option to purchase the remaining 25% stake in 3 years time, the companies announced in separate statements. In addition to the purchase price, the deal between the bus makers includes an earn-out clause with an E

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