ElringKlinger has acquired a 27% stake in Hofer AG, combined with a 53% stake in its subsidiary Hofer Powertrain Products GmbH. The purchase price has not been released but indications are in the double-digit million euro range. The deal is expected to be closed early next year, after which Hofer Powertrain will be fully consolidated.
27 Oct 2016
Expanding into engineering
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Expanding into engineering
ElringKlinger AG (ZIL2:WBO) | 0 0 (-0.7%) | Mkt Cap: 1,074m
- Published:
27 Oct 2016 -
Author:
Hans-Peter Wodniok -
Pages:
2
ElringKlinger has acquired a 27% stake in Hofer AG, combined with a 53% stake in its subsidiary Hofer Powertrain Products GmbH. The purchase price has not been released but indications are in the double-digit million euro range. The deal is expected to be closed early next year, after which Hofer Powertrain will be fully consolidated.