# Zara Resources to acquire Fox Magnum Automotive for CAD$126M

Zara Resources Inc. signed a definitive agreement to acquire all issued share capital of Fox Automotive Switzerland AG, Magnum Pirex AG and Magnum Courb SAS for CAD$126,000,000 payable in shares. Fox Magnum is a group of European electric automotive companies with interests in electric car manufacturing and fuel cell kits.

- Type: Acquisition
- Announced: 2018-08-17
- Where: Switzerland
- Value: $97.0M (126.0M CAD)
- Status: announced
- Products: electric cars, fuel cell kits, electric automotive IP
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Zara Resources Inc.](https://endata.com/companies/33805.md) (acquirer)
- [Fox Automotive Switzerland AG](https://endata.com/companies/33806.md) (target)
- [Magnum Pirex AG](https://endata.com/companies/33807.md) (target)
- [Magnum Courb SAS](https://endata.com/companies/33808.md) (target)

## Sources

- [accessnewswire.com](https://www.accessnewswire.com/newsroom/en/zara-signs-definitive-agreement-to-acquire-fox-magnum-automotive-520087), 2018-08-17: "Fox Magnum intends to expand its European electric car manufacturing capabilities to satisfy its order backlog of approximately CAD$40,000,000."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.