Mutares SE & Co. KGaA (XTRA:MUX) agreed to acquire forging business in Germany of CIE Automotive for an enterprise value of ?55.5 million on August 10, 2023. The forging business in Germany implies the sale of 100% of the share capital of (i) SCHÖNEWEWEISS & CO GmbH, (ii) Gesenkschmiede Schneider Gesellschaft mit beschränkter Haftung, (iii) Falkenroth Umformtechnik GmbH, and (iv) Jeco-Jellinghaus Gesellschaft mit beschränkter Haftung (hereinafter "the German forging companies").

The closing of the transaction is subject to the fulfilment of the usual conditions for this type of operation. For FY 2022, the forging business companies had sales of ?220 million and around 600 employees.