Mitsui to acquire 12.525% of Gestamp
Mitsui, who has been a partner of Gestamp’s since 2013 in North and South America, is to become a shareholder of the Group’s holding company. The transaction has been structured through a special purpose company called Gestamp 2020 SL, to be held by ACEK (the Riberas family’s holding company, formerly known as Corporacion Gestamp) and Mitsui.
The Japanese corporation, Mitsui, has approved its acquisition of a 12.525% stake in the share capital of Gestamp (Gestamp Automoción) for 416 million Euros. The amount of Mitsui’s investment will be adjusted based on the Spanish multinational’s future financial results. The transaction is subject to signing an investment agreement and to authorisations by competition authorities.
Since 2013, the Mitsui partnership has contributed many synergies to Gestamp. Business with Japanese customers, for example, especially difficult for foreign suppliers to win, has increased significantly in recent years. Gestamp’s pipeline with Japanese auto manufacturers has multiplied, and significant strategic co-development agreements have been reached.
Francisco J. Riberas, Chairman of Gestamp, said he was “very pleased to have a group with the strength, prestige and history of Mitsui among our shareholders”. “Such a partner as Mitsui will help us realize our strategic plan for growth over the coming years”, he added.