Tupy acquires components business from Fiat Chrysler

Tupy acquires components business from Fiat Chrysler

M&A Brazil Europe US

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

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