December 23, 2019
Brazil's Tupy said it has agreed to buy Teksid's cast-iron components business from Fiat Chrysler Automobiles for €210 million ($233 million), equal to roughly four times EBITDA for 2019.
The deal involves operations in Brazil, Mexico, Poland, Portugal and Teksid's 50% stake in a joint venture in China, along with offices in Italy and the United States, Tupy said in a statement on Friday.
Tupy added that it has already arranged a loan from a "first-tier financial institution" to cover the acquis
Brazilian parts manufacturer agrees to spend $233 mln for Teksid's iron castings division