EXX Inc. has entered into a definitive agreement for Newcor Inc. to be acquired by CIE Automotive, S.A., a leading global manufacturer and supplier of automotive components and sub-assemblies. The transaction is subject to customary closing conditions, including regulatory approvals.
This partnership with CIE represents an opportunity for Newcor to leverage CIE’s world-class capabilities as a machined components manufacturer, allowing Newcor to share these best practices as it continues serving its customers under its ongoing commitment to quality. Accordingly, the transaction allows CIE to extend its presence in the United States of America. Newcor plans to continue operating from its three existing manufacturing facilities in Michigan.
Sagent Advisors LLC acted as exclusive financial adviser to EXX Inc. and Newcor Inc., and Horwood Marcus & Berk Chartered acted as legal adviser to EXX Inc. and Newcor Inc. on this transaction.
