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ElringKlinger acquires 90% stake in Ompas

Oct 28, 2009 (Datamonitor Financial Deals Tracker via COMTEX) --

Company: ElringKlinger AG (EGKLF)

ElringKlinger AG, a German manufacturer and distributor of technical and chemical products for the automotive sector, has acquired a 90% stake in Ompas, S.A., a Turkey-based automotive supplier.

Following the transaction, Ompas will operate as ElringKlinger Turkei, S.A.

The former owner will retain the remaining 10% stake in Ompas. 

Deal Type    Acquisition
Sub-Category Majority Acquisition
Deal Status  Completed: 2009-10-27

Deal Participants 

Target (Company)   Ompas, S.A.
Acquirer (Company) ElringKlinger AG

Deal Rationale

The acquisition will enable ElringKlinger to strengthen its position in the Turkish automobile market. 

% Acquisition 90%

Copyright (C) 2009 Datamonitor Financial Deals Tracker. All rights reserved

News Provided by COMTEX

Company: ElringKlinger AG (EGKLF)


Related terms: acquisition, automobile, automotive, distributor, market, products, turkey

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