Martinrea to buy Pilot, sell C$50 mln in shares

Newswire

TORONTO, Nov 29 (Reuters) - Martinrea International Inc. said on Friday it would purchase all of the issued and outstanding shares of fluid management systems manufacturer Pilot Industries and its associated companies for C$133 million. Martinrea, which produces metal parts and assemblies primarily for the auto sector, said in a statement the purchase price would comprise of C$95 million in cash and a vendor take-back note of up to C$38 million. The transaction is expected to close by the ...

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