Federal-Mogul Goetze’s (India) ultimate global holding company -- Federal-Mogul LLC has executed acquisition agreement with Tenneco Inc., headquartered in lake forest, Illinois, United States of America dated April 10, 2018.
Pursuant to the acquisition, Tenneco Inc. will be acquiring Federal-Mogul group for $5.4 billion, through a combination of $800 million in cash, 5.7 million shares of Tenneco Class A common stock (representing a 9.9% voting interest), 23.8 million shares of Non-Voting Class B common stock and assumption of debt. Under the agreement, Tenneco Inc. can reduce the number of shares of Class B Non-Voting common stock by up to 7.3 million shares and increase the cash consideration proportionately at the closing.
Federal-Mogul Goetze (India) is the largest manufacturer of world-class pistons, piston rings, sintered parts and cylinder liners covering a wide range of applications including two/three-wheelers, cars, SUVs, tractors, light commercial vehicles, heavy commercial vehicles, stationary engines and high output locomotive diesel engines. The company also manufactures Light Metal Castings.
