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LM Wind Power Group has announced that it has agreed the sale of Svendborg Brakes to Altra Holdings Inc.
The definitive agreement will see US-based Altra Holdings Inc. acquire Svendborg Brakes for a cash consideration of € 80.1 million, which is payable upon completion of the acquisition. The transaction is structured on a debt and cash free basis. Completion is subject to receipt of German regulatory approval and is expected to take place during the fourth quarter of 2013. Svendborg Brakes was acquired in 2008 and integrated into LM Glasfiber to form the LM Wind Power Group in 2009.
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