Brief: Gentherm To Acquire Alfmeier's Automotive Business

Gentherm

04/05/2022 10:02

May 4 (Reuters) - Gentherm Inc  THRM.O :
    * GENTHERM TO ACQUIRE ALFMEIER'S AUTOMOTIVE BUSINESS, AN
INNOVATIVE MARKET LEADER IN AUTOMOTIVE LUMBAR AND MASSAGE
COMFORT SOLUTIONS
    * UNDER TERMS OF TRANSACTION, GENTHERM WILL ACQUIRE ALFMEIER
FOR
EUR 177.5 MILLION IN CASH
    * TRANSACTION WILL BE FUNDED THROUGH A COMBINATION OF
GENTHERM'S
EXISTING CASH BALANCES AND REVOLVING CREDIT FACILITY
    * IN ADDITION TO REVENUE SYNERGIES, COMPANY EXPECTS TO
ACHIEVE
APPROXIMATELY $10 MILLION IN ANNUAL RUN-RATE COST SAVINGS

Source text for Eikon:  ID:nGNXf8B5z 
Further company coverage:  THRM.O 

 ((Reuters.Briefs@thomsonreuters.com;))