#Spinning
Saurer sells Accotex, Temco and Autoconer businesses to Rieter
On 17 August 2021, the preliminary insolvency proceedings involving two of the German entities of Saurer were terminated.
The purchase price for the three businesses is EUR 300 million on a cash and debt-free basis.
As a transition to the transaction, Rieter will acquire 57% of the shares of Saurer Netherlands Machinery Company B.V. (Amsterdam, Netherlands), the mother company of the two German entities and this deal is expected to be completed in August. The above shares acquired by Rieter will be returned to Saurer after the implementation of the transaction in six months.
In connection with the transaction, it is envisaged that Rieter will supply automatic winders to Saurer in the future.
For Saurer, this transaction is an important step for the company to further develop and achieve strategic transformation in the new environment.
