GBP-Legal advices CIE AUTOMOTIVE in the acquisition of the US based Newcor Inc.

The transaction, upon its closing and execution, shall entail an estimated investment by CIE Automotive of 106 million US dollars (approximately 100 million euros), as regards the payment of the price of the transaction (to be paid in cash).

Newcor is a company specialised in the design and manufacture of high precision machined engine, powertrain and transmission components for the automotive sector.

Newcor develops its activities through three (3) manufacturing facilities in Michigan (USA). Annual turnover reaches 150 million US dollars. Customers include automotive manufacturers and Tier 1 groups, with a significant footprint in the United States of America.

The completion of the transaction is conditioned to the customary antitrust and regulatory clearances, and it is expected during the first quarter of 2017.

GBP-Legal has advised CIE Automotive through its M&A team lead by José Ramón Berecibar and Santiago Bayo. McCarter & English has advised CIE Automotive in local US law matters.

CIE Automotive – Press Release

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