CIE AUTOMOTIVE: ACQUISITION OF PLASTIC COMPONENTS MANUFACTURER IN BRAZIL (ANÁLISIS BANCO SABADELL)
The company has just announced the acquisition of 100% of the shares in Iber-Oleff Brazil, which has a factory in São Paulo (Brazil) and specialises in the manufacture of plastic components for vehicle interiors, integrating injection, welding, painting, laser and assembly processes. The deal’s total amount (EV) is € 22 M (0.4% of CIE’s EV), although it includes the acquisition of land next to the plant totalling € 2 M (which CIE will use to expand the factory). Excl. the effect from these land plots, the EV/EBIT’22 multiple paid would be 6.7x (vs. 12.4x for CIE). The transaction is pending compliance with the usual conditions for this type of transaction (antitrust).CIE Automotive is the parent company of an industrial group formed by several companies that are engaged in the design, manufacture and sale of automobile component and sub-units on the world market. In addition, Co. is also engaged in the bio-fuels business which is in the initial stages of development and is made up of various companies devoted to the production and distribution of bio-fuels.
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