Unitas on course to exit Exego to US-listed Genuine Parts
Exego Group, an Australian auto parts distributor owned by Unitas Capital, has sold a 30% stake in itself to US-listed Genuine Parts Company for around $150 million in cash. The transaction will take the form of a new share issue, with Genuine Parts carrying the option to acquire all remaining shares in Exego at a later date, subject to the Australian firm meeting certain earnings thresholds.
The deal, which Genuine Parts announced in a filing with Securities and Exchange Commission, is expected to close on or around December 1. Unitas, then known as CCMP Capital Asia, completed the buyout...
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