NBI Bearings Europe, S.A. completed the acquisition 91.2% stake in Industrias Metalurgicas Galindo, S.L.
January 30, 2020
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NBI Bearings Europe, S.A. (BME:NBI) agreed to acquire 91.2% stake in Industrias Metalurgicas Galindo, S.L for 1.5 million on January 29, 2020. The acquisition agreement, signed once the due diligence process has been satisfactorily completed, will materialize as a combination of purchase of shares and capital increase, until reaching a 91.2% stake in Galindo. The amount to be disbursed for the acquisition amounts to 1.5 million. The subsequent capital increase of 1 million will be used to boost the growth plan. The purchase is made with resources available in NBI, with its disbursement being planned in February 2020. The remaining 8.8% of the share capital will continue to be owned by the Director General of Galindo. The transaction is expected to complete in the coming days. CDI Global Iberia acted as financial advisor to NBI Bearings.
NBI Bearings Europe, S.A. (BME:NBI) completed the acquisition 91.2% stake in Industrias Metalurgicas Galindo, S.L on January 31, 2020. Saxenhammer & Co. Corporate Finance GmbH acted as financial advisor to NBI Bearings Europe, S.A.
NBI Bearings Europe SA is a Spain-based company engaged in the bearings production. The Company focuses on the design, development and manufacture of ball and roller bearings for various applications, such as cranes and offshore machinery; gear boxes; industrial machinery; agricultural equipment; tubular stranders, as well as pulleys and shear blocks. The Company's products range includes single row ball bearings; cylindrical, tapered, spherical and needle roller bearings; support rollers; cam followers, as well as cylindrical and spherical roller thrust bearings. In addition, it provides advisory related to bearing selection and dimensions; technical assistance; as well as tailor-made design, among others. The Company is controlled by Pakel Rmi Promocion de Empresas SL.