{"id":4120,"date":"2021-07-01T10:32:10","date_gmt":"2021-07-01T13:32:10","guid":{"rendered":"https:\/\/www.tupy.com.br\/?p=4120"},"modified":"2021-09-22T10:32:34","modified_gmt":"2021-09-22T13:32:34","slug":"tupy-reaches-agreement-to-acquire-the-brazilian-and-portuguese-cast-iron-operations-of-teksid","status":"publish","type":"post","link":"https:\/\/www.tupy.com.br\/en\/tupy-reaches-agreement-to-acquire-the-brazilian-and-portuguese-cast-iron-operations-of-teksid\/","title":{"rendered":"Tupy reaches agreement to acquire the Brazilian and Portuguese cast iron operations of Teksid"},"content":{"rendered":"

Tupy S.A. (\u201cTupy\u201d), a Brazilian multinational company dedicated to designing and manufacturing structural components, announces today the conclusion of a revised agreement with Stellantis NV (\u201cStellantis\u201d) to acquire the Brazilian and Portuguese cast iron components operations of Teksid SpA (“Teksid”), a wholly owned subsidiary of Stellantis.<\/p>\n

Tupy had announced on December 2019 an agreement to acquire the global cast iron components operations of Teksid. Based on review and input from U.S. competition authorities, Tupy and Stellantis agreed to revise the transaction. In addition, Tupy has decided that a revised perimeter for the transaction will focus on assets with higher strategic fit. Therefore, Tupy will not proceed with the acquisition of Teksid\u2019s Mexican, Chinese and Polish operations and Teksid\u2019s offices in Italy and in the United States. The Enterprise Value for the new perimeter is \u20ac67.5 million.<\/p>\n

\u201cThe conclusion of this negotiation is a very important step for Tupy, and we are glad about the potential synergy among the companies. The transaction is part of Tupy\u2019s global growth strategy and increases its capacity to manufacture blocks and heads geared for capital goods,\u201d proclaims Fernando Cestari de Rizzo, the CEO of Tupy. \u201cThe exchange of knowledge among people will be as important as the asset combination, taking into account that both companies have teams made up of highly skilled and seasoned professionals, who will contribute to the development of innovative technologies, as the history of Tupy and Teksid has already shown,\u201d concluded Fernando.<\/p>\n

The transaction has been approved by Tupy\u2019s Board of Directors and is expected to be completed in the fourth quarter of 2021. The transaction will comply with the conditions of the previous approval received from the Brazilian competition authority in April 2021.<\/p>\n","protected":false},"excerpt":{"rendered":"

Tupy S.A. (\u201cTupy\u201d), a Brazilian multinational company dedicated to designing and manufacturing structural components, announces today the conclusion of a revised agreement with Stellantis NV (\u201cStellantis\u201d) to acquire the Brazilian and Portuguese cast iron components operations of Teksid SpA (“Teksid”), […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-4120","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"\nTupy reaches agreement to acquire the Brazilian and Portuguese cast iron operations of Teksid - Tupy<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.tupy.com.br\/en\/tupy-reaches-agreement-to-acquire-the-brazilian-and-portuguese-cast-iron-operations-of-teksid\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tupy reaches agreement to acquire the Brazilian and Portuguese cast iron operations of Teksid - Tupy\" \/>\n<meta property=\"og:description\" content=\"Tupy S.A. 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