Mutares to acquire three exteriors plants from Magna.

Mutares, a listed private equity holding company, agreed to acquire three exteriors plastic components plants from Magna, a firm in automobile parts manufacturing industry. The closing of the transaction and the rebranding of the company are expected in the third quarter of 2021. Financial terms were not disclosed. “The acquisition of the three exteriors plants is a great win for us. We are confident that the business is well positioned to benefit from several strategic growth initiatives in the future. It will benefit especially from automotive megatrends of fuel efficiency and demand for increasingly lightweight exterior plastics from OEMs,” Johannes Laumann, Mutares CIO.