WABCO Holdings Inc, a global supplier of technologies to improve the safety and efficiency of commercial vehicles, has successfully acquired the remaining 3.16% of Transics International.
As announced February 13, 2014, WABCO had acquired 96.84% of Transics shares for a net consideration of 95.8 million Euros. WABCO subsequently made a public offer to acquire the remaining 3.16% of outstanding shares, consistent with Belgian takeover rules.
As a result of the successful takeover procedure completed recently, WABCO now owns 100% of the securities issued by Transics. This means WABCO paid in net consideration a total amount of 99.9 million Euros for the 100% acquisition of Transics.
As part of WABCO, Transics will continue to operate under its own brand. Based in Ypres, Belgium, Transics also has offices in France, Germany, Ireland, Italy, the Netherlands, and Spain, and it manages a sales network across Europe.