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The latest update is out from Standard Motor Products (SMP).
On July 5, 2024, Standard Motor Products, Inc. announced the purchase of Nissens Automotive for €360 million, with plans to finance the acquisition through its amended credit facility. The deal includes the entire share capital of Nissens Automotive and is contingent on regulatory approvals and customary closing conditions. To support the purchase, the company also secured a new $125 million term loan that features a five-year maturity and a variable interest rate. The transaction is expected to close by April 1, 2025, at the latest.
For detailed information about SMP stock, go to TipRanks’ Stock Analysis page.
