Brazil's Frasle Mobility to buy Grupo Kuo's Dacomsa for $389 million (updated)

America Movil SAB de CV

24/06/2024 23:00

(Adds more details of the deal in paragraphs 2-5)
       SAO PAULO, June 24 (Reuters) - The Brazilian auto parts
producer Frasle Mobility  FRAS3.SA  said on Monday it that has
agreed to buy Mexican auto spare parts distributor Dacomsa from
Mexico's Grupo Kuo S.A.B de C.V.  KUOB.MX  for some 2.1 billion
reais ($389.47 million).
    With the deal, Frasle Mobility, formerly known as Fras-le,
said it would also acquire the Dacomsa-owned Kuo Motor and
Fritec firms, according to a securities filing.
        The companies Frasle Mobility will acquire had a total
net revenue of about 1.4 billion reais in 2023, it added. 
  
        "The acquisition is part of the company's strategy of
internationalizing its business in the spare sector, through
product diversification and brand expansion in its portfolio,"
Frasle Mobility said.
  
        The acquisition will be made through two subsidiaries in
Mexico and North America, according to Frasle Mobility.
  

($1 = 5.3928 reais)

 (Reporting by Andre Romani; Editing by Aida Pelaez-Fernandez
and Brendan O'Boyle)
 ((Andre.Romani@thomsonreuters.com; 11 991314109;11 56447500;))