Tupy and Stellantis Agree to Review Teksid Transaction

Brazilian Tupy and Stellantis agreed to review the transaction based on the comments from U.S. antitrust authorities, according to a filing.

• Company had announced on 2019 its agreement to acquire the global cast iron components operations of Teksid
• Based on review, Tupy has decided to focus on assets with higher strategic fit and will not proceed with the acquisition of Teksid’s Mexican, Chinese and Polish operations and Teksid’s offices in Italy and in the United States
• Company will maintain the strategic alliance of global supply with Stellantis, subject to the commitments already assumed with Brazilian antitrust authority
• Transaction was approved ...