Autokiniton Global Group to acquire Tower International for $900M

Autokiniton Global Group (AGG), a portfolio company of KPS Capital Partners, will acquire Tower International for $31 per share in cash. The total value including debt is approximately $900 million. The transaction is expected to close in September or October 2019.

“Autokiniton Global Group (“AGG”), a leading North American supplier of metal-formed components and complex assemblies to the automotive industry, and Tower International, Inc. today announced they have entered into a definitive agreement for AGG to acquire Tower for $31 per share in cash.”sec.gov

• 3 sources
• sec.govEX-99.1Jul 12, 2019
• prnewswire.comAutokiniton Global Group to Acquire Tower International for $31 Per Share in CashTower International, Inc.Jul 12, 2019
• privateequitywire.co.ukKP Capital's Autokiniton Global Group to acquire Tower International USD900m deal - Private Equity WireRehan SaleemJul 15, 2019

Summarized from public sources; check the original articles before acting on it.