World News: 12:55 GMT Monday 27th May 2019. [EQS Group via SPi World News]
DGAP-News: Mutares AG / Key word(s): Private Equity/Takeover
Mutares strengthens its portfolio with add-on acquisition in the automotive sector
Munich, May 27, 2019 - Mutares AG (ISIN: DE000A2NB650) has signed an agreement to acquire 80% of Plati Elettroforniture S.p.A. (Plati), a European supplier of cable harnesses, from Chinese Deren Group. The transaction is expected to be completed by June 2019.
Plati, headquartered in Italy in Madone, near Bergamo, is an internationally active supplier of cable harnesses to customers in the automotive, consumer goods, healthcare and telecommunications sectors. Its product portfolio includes cable harnesses, automotive cables, connectors, PVC extrusion, and electromechanical assemblies. The Group employs approx. 850 employees at its five sites and generated revenues of EUR 38 million in fiscal 2018. Deren Group will continue to be a strategic partner of Plati for the development of the Asian market.
'We are pleased to welcome Plati as add-on for Elastomer in our Automotive & Mobility segment and thus lay the foundation for a new supplier group in our portfolio. For Mutares this acquisition is a complementary addition to our current engagement in the automotive sector', Robin Laik welcomes the new addition to the Mutares portfolio.
Company profile of Deren Group
Deren Group (ISIN: CNE000001N62) is a leading Chinese manufacturer of wire harness and electronic components for the automotive, telematics, home appliances, and consumer electronic industry. Deren employs over 20,000 employees worldwide in 8 countries. Group revenues in 2018 amounted to EUR 1 Billion. Deren is listed on Shenzhen stock exchange since 2006 with stock code SZ002055.
Company profile of Mutares AG
For more information:
|Phone:||+49 (0)89-9292 776-0|
|Fax:||+49 (0)89-9292 776-22|
|Listed:||Regulated Unofficial Market in Berlin, Frankfurt (Scale), Stuttgart, Tradegate Exchange|
|EQS News ID:||816003|
|End of News||DGAP News Service|
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