Tupy: Cade approves acquisition of MWM automotive trade

CADE’s General Superintendence approved without restrictions the acquisition made by tupy (TUPY3) of the International Automotive Industry of South America (MWM), said the company this Wednesday (26).

The purchase of the assets and businesses of MWM he was announced in April this year, for R$ 865 million. At the time, the company said the business combination would offer a unique value proposition to its customers.

“The new company will offer its customers a unique value proposition, comprising the integration of casting, machining, assembly, calibration, technical validation and engineering services.”

The decision is still subject to review, upon recall by CADE’s Tribunal, within 15 days. After this period without any recall, the decision becomes final.

Tupy expects the completion of the transaction to take place in the fourth quarter of this year.

Source: Money Times