Announced
Financials
Tags
Norway
Acquisition
Private
Cross Border
Single Bidder
electric cables
Friendly
Pending
Electronic Components and Equipment
Majority
Synopsis
Suprajit Engineering, an automotive control cable manufacturer, agreed to acquire Light-Duty Cables business unit from Kongsberg Automotive, a manufacturer of automotive products, for €38m. “We are convinced that this step allows Kongsberg Automotive to further focus our resources and investment on our highpotential, technology-driven and know-how-intensive business areas. We strongly believe that this transaction is in the best interest of Kongsberg Automotive and our shareholders and also offers a great opportunity for the LDC employees and the new owner Suprajit to achieve economies of scale," Joerg Buchheim, Kongsberg Automotive President & CEO.
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