CIE Automotive acquires Italy-based gears maker Somaschini
Company expects to close deal in 2020
CIE Automotive has acquired 100% of the share capital of Italian supplier Somaschini S.p.A for EUR79.6 million (USD87.4 million), the Spain-based automotive supplier said in a press release on 25 September. CIE will fund the acquisition through its available cash upon the closing date. The company expects to conclude the deal, upon getting regulatory approval, by 2020.
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