GKN To Acquire Getrag Driveline Business

UK automotive parts manufacturer GKN will acquire the all-wheel-drive components businesses of Germany's Getrag for about GBP295mn (US$482.55mn). The acquisition, pending customary conditions and regulatory approval, is likely to be concluded in September 2011. According to the payment terms, GKN will provide GBP283mn (US$462.92mn) in cash for the equity along with a further deferred amount of about GBP12mn (US$19.62mn), which will be subject to the success of Getrag Driveline Products in achieving targets.

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