The agreement between Carraro and Bonfiglioli for the German company O&K Antriebstechnik is finalized.
Campodarsego (Padova), 30 December 2015 – With the fulfillment of all the precedent conditions, the sale of 55% of the German company O&K Antriebstechnik GmbH (components for track machines, cranes and mining applications) owned by the Carraro Group to the Bonfiglioli Group was completed today in Campodarsego for the amount of 25.7 million.
Carraro remains in the company with 45% maintaining a strategic role as a key partner in the delivery of specific components.
Carraro will be reserved to the usual rights of governance to protect the minority, including the appointment of an administrator provided with some veto rights. More in detail, in addition to the sale of 55% of O&K Antriebstechnik GmbH share capital, the agreement to the parties having some pre-emptive rights to buy or sell the remaining 45% stake is exercisable by 30 September 2020 following fixed price setting mechanisms.
As part of the transaction, several commercial and service agreements between O&K Antriebstechnik GmbH and both Carraro Group and Bonfiglioli Group companies have been signed.