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Asko Holding intends to acquire a Canadian plant from Rostselmash for $45.5 million

Russia 03.01.2024
Source: finmarket.ru
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Turkish agricultural equipment manufacturer Basak Traktor, part of the Asko Holding group, intends to acquire a 97% stake in the Canadian agricultural machinery group Buhler Industries Inc. from the Rostselmash (RSM) company for 60.5 million Canadian dollars ($45.5 million), according to the group’s official website. It is noted that Basak Traktor will buy all shares owned by Rostselmash.
Asko Holding intends to acquire a Canadian plant from Rostselmash for $45.5 million

Interfax sent a request to Rostselmash about the details of the transaction. It was not possible to immediately obtain a comment.

As the Gorod N newspaper reported, citing company data, of the total sale price, the new owner will give about $27.9 million for shares ($1.15 per share), $4.1 million will be transaction costs, and the rest will be the purchase price debt with interest Buhler Industries.

In addition, the company's statement mentions "certain other fees associated with the transfer of intellectual property."

The Rostselmash group is controlled by the President of the Russian Association of Manufacturers of Specialized Machinery and Equipment (Rosspetsmash) Konstantin Babkin and his partners Yuri Ryazanov and Dmitry Udras, and unites the combine harvester plant of the same name and 12 other enterprises. The group's product line includes more than 150 models and modifications of 24 types of equipment, including grain and forage harvesters, tractors, sprayers, forage procurement and grain processing equipment.

As reported, the RSM group acquired an 80% stake in Buhler Industries in October 2007. The total transaction amount was $140 million.

Canadian Buhler Industries Inc., controlled by Rostselmash, produces heavy agricultural tractors. The company's dealer and distribution network in North America is constantly expanding.

As reported on the official website of Asko Holding, the companies and subsidiaries of the group operate in the production of construction and agricultural equipment, energy and technology.

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