Grupo Antolin $525 million acquisition of Magna International interiors operations

Overview:

• Grupo Antolin has acquired the interiors operations of Magna International for $525 million.
• The unit produces interiors for the automobile industry.
• Magna will be renamed as a business unit called Cocpits and Interior Trim and will be headquarted in Munich.
• Grupo Antolin has financed the deal through an issue of €400 million in senior secured notes and a €200 million syndicated loan.

Sam Duke - Editor