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ST Engineering land systems arm acquires remaining stake in Technicae

Jude Chan Published on Fri, Jun 23, 2017 / 6:00 PM GMT+8

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SINGAPORE (June 23): Mobility Systems (MSPL), a subsidiary of ST Engineering’s land systems arm ST Kinetics, has entered into an agreement to acquire the remaining 5.64% equity interest in Technicae Projetos e Serviços Automotivos (Technicae).

The purchase consideration for the remaining stake in the Brazil-based automotive maintenance, repair and overhaul (MRO) services provider is BRL 750,000 ($339,000).

The acquisition will be funded by a capital injection by ST Kinetics.

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