Italy's Brembo jumps after acquisition of suspension maker Öhlins Racing

Brembo NV

11/10/2024 08:57

** Shares in Italian premium brake maker Brembo  BRBI.MI 
rise 4.3% after it agreed to buy Swedish suspension technology
manufacturer Öhlins Racing for $405 million
    ** The deal is the largest acquisition in Brembo's history,
it says
    ** Brokerage Equita says Brembo paid an expensive multiple,
but the deal will boost earnings per share
    ** Banca Akros says the acquisition complements Brembo's
existing product offerings and will not negatively impact
profitability metrics
    ** Up to Thursday's close, Brembo's shares were down 12.4%​
YTD
    ** The stock is among the top performers of ​Italy's
all-share index  .FTITLMS  which is up 0.2%

 (Reporting by Alberto Chiumento,)
 ((Alberto.Chiumento@thomsonreuters.com;))