Chinese autopart maker buys KSM from European buyout firm
European buyout firm Cognetas has sold German auto-parts supplier KSM Castings to China’s CITIC Dicastal Manufacturing for an undisclosed sum. Reports estimate that transaction’s value at EUR300 million ($430.5 million).
Cognetas acquired KSM in 2005 via a EUR155 million ($222 million) management buyout and rebranded the company to its current incarnation. KSM develops light metal casting products for the automotive industry....
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