WABCO Holdings Inc. announced Tuesday that it has acquired the remaining 3.16 percent of Transics International.
WABCO announced in February that it acquired 96.84 percent of Transics International shares for a net consideration of EUR 95.8 million. WABCO subsequently made a public offer to acquire the remaining 3.16 percent of outstanding shares, consistent with Belgian takeover rules.
As a result of the successful takeover procedure completed recently, WABCO now owns 100 percent of the securities issued by Transics International NV. This means WABCO paid in net consideration a total amount of EUR 99.9 million for the 100 percent acquisition of Transics International.
“We are pleased to complete WABCO’s acquisition of Transics International as planned,” says Nick Rens, WABCO Executive Officer and Vice President, Trailer Systems, Aftermarket and Off-Highway. “We reiterate that the synergy of WABCO and Transics superbly aligns with a WABCO strategic objective to further grow business with fleets around the world as we expand our portfolio of innovative solutions tailored to the specific needs of our global customer base.”
As part of WABCO, Transics International will continue to operate under its own brand. Based in Ypres, Belgium, Transics International also has offices in France, Germany, Ireland, Italy, the Netherlands and Spain, and it manages a sales network across Europe.