Magna International €1.75 billion acquisition of Getrag

Overview:

• Canada based Magna International acquired German transmissions systems manufacturer Getrag for €1.75 billion.
• A family-owned company, Getrag is one leading independent suppliers in its field and has joint-ventures with Ford, Jiangling Motors Group, and Dongfeng Motor Group Co.
• Magna is the biggest auto-parts supplier in North America.
• Magna's purchase of the business forms part of a restructuring to focus on high growth areas; the acquisition will strengthen the Canadian's powertrain business and its presence in Asia, where Getrag has a number of joint-ventures.  
• The enterprise value of the transaction is €2.45 billion, factoring in an additional €700 million for Getrag's liabilities.

Ben Naylor - Regional Editor