Tower International, Inc. (NYSE: TOWR), a leading global manufacturer of engineered automotive structural metal components and assemblies, has signed a Memorandum of Understanding relating to thesale of all of its European Operations to Financière SNOP Dunois S.A., a privately owned French automotive supplier. Before fees and other customary adjustments, the anticipated sale price represent an Enterprise Value of €255 million ($298 million at $1.17/Euro) representing an enterprise multiple of 5.4 times Adjusted EBITDA. This transaction multiple is significantly higher than the present multiple for Tower's common stock, which Tower estimates was approximately 4.5 times based on yesterday's closing price. "This accretive transaction with FSD allows Tower to focus on a North American business with strong organic growth, profit margins and cash flow. It further strengthens Tower's balance sheet and enhances Tower's financial flexibility and accelerates Tower's ability to invest in additional accretive growth, reduce leverage and/or return capital to Tower shareholders," said Tower's CEO Jim Gouin.