WABCO Holdings said it was selling RH Sheppard to Bendix Commercial Vehicle Systems for $149.5m.
Sheppard supplies steering systems to commercial vehicle makers.
Go deeper with GlobalData
Bendix is an indirect subsidiary of Knorr-Bremse.
Wabco said it was divesting Sheppard in connection with the antitrust division of the US Department of Justice's review of the proposed merger between itself and ZF Friedrichshafen and also complying with a settlement order approved by the US District Court for the District of Columbia.
The Sheppard deal is subject to usual closing conditions and regulatory approvals and also dependent on the successful closing of ZF's acquisition of Wabco which is expected in early 2020 following receipt of remaining regulatory approvals.
Wabco has just broken ground in Sakarya for its first factory in Turkey.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe commercial vehicle braking and component specialist said the plant would cost $20m and supply customers in Turkey, Europe and the Middle East.
The new factory follow the October 2018 opening of a distribution centre in Istanbul.
