Tupy S.A. completed the acquisition of Brazilian and Portuguese Cast Iron Components Operations of Teksid S.p.A.
September 29, 2021
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Tupy S.A. (BOVESPA:TUPY3) entered into a revised agreement to acquire Brazilian and Portuguese Cast Iron Components Operations of Teksid S.p.A for an enterprise value of €67.5 million on July 1, 2021. The transaction has been approved by Tupy's Board of Directors. The transaction will comply with the conditions of the previous approval received from the Brazilian competition authority in April 2021 and is expected to be completed in the fourth quarter of 2021. On July 1, 2021 Department of Justice announced its approval of a restructured deal, Tupy will acquire Teksid iron operations in Brazil and Portugal, but not in Mexico. Morgan Stanley acted as financial Advisor to Tupy S.A in the transaction. John E. Scribner of Weil, Gotshal & Manges LLP acted as legal advisor to Tupy S.A. in the transaction.
Tupy S.A. (BOVESPA:TUPY3) completed the acquisition of Brazilian and Portuguese Cast Iron Components Operations of Teksid S.p.A on September 30, 2021.
Tupy SA is a Brazil-based company principally engaged in the production and commercialization of parts for the automotive industry. The Companyâs activities are divided into two business segments: Automotive and Hydraulics. The Automotive division focuses on manufacturing engines and its components, brake systems, bearings, as well as transmission, steering, axle and suspension components, among others. The Hydraulics division is responsible for producing flexible iron connections for the construction industry, iron and steel grits for the marble and granite processing industry, as well as cast-iron shapes for general use. The Company owns industrial plants and sales offices in a number of countries, such as Brazil, Mexico, the United States and Germany. The Company operates through Tupy Agroenergetica Ltda, Sociedade Tecnica de Fundicoes Gerais SA, Tupy American Foundry Co, Tupy American Iron & Alloys Co and Tupy Europe GmbH, among others.
TUPY S.A. 
