Meritor sells stake in Brazilian partnership
Meritor, Inc. said Tuesday that it has sold its 50 percent ownership interest in Suspensys Sistemas Automotivos Ltda. to its joint venture partner Randon S.A. Implementos e Participacoes for $195 million in cash and other consideration.
Randon S.A. Implementos e Participacoes operates directly through its subsidiaries in three segments – towed vehicles, railcars and specialty vehicles; auto parts and automotive systems; services and others. It is one of the largest private companies in Brazil and exports to over 100 countries.