Mitsui is to become a shareholder of Gestamp's holding company, after being a partner in the Spanish supplier in North and South America since 2013.
The transaction has been structured through a special purpose company known as Gestamp 2020 SL, to be held by ACEK (the Riberas family's holding company, formerly known as Corporacion Gestamp) and Mitsui.
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Mitsui, has approved its acquisition of a 12.525% stake in the share capital of Gestamp (Gestamp Automoción) for EUR416m (US$469m).
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 synergies to Gestamp. Business with Japanese customers, for example, especially difficult for foreign suppliers to win, has increased in recent years.
Gestamp's pipeline with Japanese auto manufacturers has multiplied and co-development agreements have been reached.
