Brief: CIE Automotive Completes Disposal Of Its German Forging Manufacturing Business

CIE Automotive India

16/10/2023 14:12

Oct 16 (Reuters) - CIE Automotive SA  CIEA.MC :
    * COMPLETES THE DISPOSAL OF ITS GERMAN FORGING MANUFACTURING
BUSINESS
    * HAS COMPLETED SALE TO FERRAL UNITED GMBH - SUBSIDIARY OF
MUTARES
SE & CO. KGAA - OF ITS FORGED COMPONENTS MANUFACTURING BUSINESS
IN GERMANY
    * TRANSACTION IMPLIES DISPOSAL OF COMPANIES HELD BY CIE
AUTOMOTIVE
THROUGH ITS INDIAN UNIT CIE AUTOMOTIVE INDIA: SCHÖNEWEISS & CO,
GESENKSCHMIEDE SCHNEIDER, FALKENROTH UMFORMTECHNIK, AND
JECOJELLINGHAUS
    * ENTERPRISE VALUE OF THE TRANSACTION AMOUNTS TO EUR 55.5
MILLION
    * EQUITY VALUE AMOUNTS TO 25 MILLION EUROS, WHICH INCLUDES
CERTAIN
CONTINGENT PAYMENTS OF 2.3 MILLION EUROS
    * SALE OF BUSINESS DOES NOT HAVE SIGNIFICANT ADDITIONAL
IMPACT ON
CIE AUTOMOTIVE'S CONSOLIDATED INCOME STATEMENT

Source text for Eikon:  ID:nCNMFrc92 
Further company coverage:  CIEA.MC 

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