Home / Daily Briefs / 2015 / Saltillo nears deal with Polish parts company

Saltillo nears deal with Polish parts company

Saltillo nears deal with Polish parts company

December 21, 2015 | Aaron Weinman
Mexican steelmaker upped its offer price for Polish automotive group, picking up 92% in public tender offer

Mexico Europe M&A

Grupo Industrial Saltillo closed a tender offer this week to buy Poland’s Automotive Components Europe (ACE), it said. Saltillo picked up 92% of ACE’s shares, having offered PLN16.20 ($4.09) per share. Saltillo is in talks with Santander for a five-year loan to co-finance the deal and acquire the outstanding 8% in ACE's share capital. If successful, the acquisition could grow to as much as MXN1.375bn ($81m).  The Mexican steelmaker increased its offer price for ACE, after its original

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