Deal Snapshot
AK STEEL CLOSES ACQUISITION OF AUTOMOTIVE SUPPLIER PRECISION PARTNERS
Friday 11 August 2017

Ohio, US-based steelmaker AK Steel (NYSE: AKS) has closed the acquisition of Canada-based automotive market supplier Precision Partners Holding Company to expand platform for lightweight steel solutions, the company said. Precision Partners was acquired for USD 360m in a cash transaction. AK Steel said it intends to finance the acquisition with a combination of debt and equity securities.
AK Steel said the acquisition advances its focus on the high-growth automotive lightweighting space and its prominent position in advanced high-strength steels. The acquisition of Precision Partners strengthens collaboration with AK Steel's automotive market customers, leveraging AK Steel's research and innovation in materials and metals forming and Precision Partners' technology and advanced capabilities in tooling and stamping.


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Details
Date Published: 11/08/2017
Target: Precision Partners Holding
Country: Canada
Deal Size: 360m (USD)
Sector: Motor Vehicles
Type: Corporate acquisition
Financing: Cash
Status: Closed
Vendor:
Buyer: AK Steel
Buyer Advisor: Credit Suisse , Weil Gotshal and Manges
Comment:


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