Superior Industries Concludes Tender Offer For Purchase Of Shares Of UNIWHEELS AG

Superior Industries Concludes Tender Offer For Purchase Of Shares Of UNIWHEELS AG

In conjunction with the close of the tender offer, Don Stebbins and Kerry Shiba will join the supervisory board of UNIWHEELS.

 

Superior Industries International, one of the largest manufacturers of aluminum wheels for OEMs in North America and Europe, has concluded its tender offer for the purchase of shares of UNIWHEELS AG for an aggregate consideration of $714.7 million, financed through approximately $670 million of newly funded debt, as well as $150 million of Preferred Equity.

“The conclusion of the tender offer marks the beginning of a new chapter for Superior as a leading global supplier of aluminum wheels with a diversified customer base, expanded geographic reach and a larger platform for future investment. We are thrilled to welcome the UNIWHEELS team to Superior, and believe this is a remarkable opportunity for our company and our collective employees. This highly transformative and synergistic transaction will deliver meaningful benefits for all of our stakeholders and positions the combined company extremely well for future growth and profitability,” said Don Stebbins, Superior’s president and CEO.

The subscription period for the tender offer expired on May 22. As of expiration, 11,445,080 shares had been validly tendered, representing approximately 92.3 percent of UNIWHEELS shares of common stock, that were acquired by Superior for an average price of 233.67zl per share, or approximately $714.7 million.

In conjunction with the close of the tender offer, Don Stebbins and Kerry Shiba will join the supervisory board of UNIWHEELS. In addition, as previously announced, Ransom Langford of TPG Growth was appointed to Superior’s board of directors in connection with the firm’s investment in Superior.

 

You May Also Like

Dana Participating in Easter Jeep Safari

The event will take place in Moab, Utah, March 23-31.

Dana to Participate in Easter Jeep Safari 2024

Dana Incorporated will participate in Easter Jeep Safari 2024, held March 23-31 in Moab, Utah. Dana products will be on site and available for demonstrations.

“At Dana, we are committed to rigorously testing and validating our products in the most challenging conditions to guarantee superior quality, durability, and performance,” said Bill Nunnery, senior director, sales and marketing, global aftermarket for Dana. “Easter Jeep Safari features rugged trails that offer us an ideal terrain for product trials. The event also gives us the opportunity to engage with Jeep enthusiasts and understand how we can enhance their off-road experiences through vehicle customizations.”

Advance Auto Parts Reports Q4, Full Year 2023 Results

President and CEO Shane O’Kelly said Advance continues to act with a sense of urgency to “return to profitable growth.”

financial results
AutoZone Reports Q2 Results with Increases in Same Store Sales

During the quarter, AutoZone opened 19 new stores in the U.S., while adding six new stores in Mexico and four in Brazil.

Dana Inc. Reports 2023 Record Sales and Q4 Earnings

For the full-year 2023, Dana reported sales of $10.6 billion, up from $10.2 billion in 2022.

Financial-results
LKQ Corp. Announces Q4, Full Year 2023 Results

President and CEO Dominick Zarcone expressed satisfaction with the company’s results amid macroeconomic challenges.

Other Posts

HDA Truck Pride Member Southside Trailer Service Expands

The company acquired PBS Brake & Supply in Syracuse, NY.

HDA Truck Pride Member Southside Trailer Service Expands
ZF Aftermarket Releases 80 New Parts

The latest additions expand coverage to more than 5 million vehicles in operation.

ZF Aftermarket Releases 80 New Parts
Schaeffler Highlights ESG Progress in 2023 Sustainability Report

Schaeffler is currently focusing on seven key ESG goals in the implementation of its sustainability strategy.

Schaeffler 2023 Sustainability Report
CMA, DoubleCoin to Showcase Long-Haul Steer Tires at MATS

Company reps will be on-site to answer questions, schedule meetings and coordinate a raffle of outdoor sporting equipment in booth #11140.

tire-distribution-outlook-tire-rack