Martinrea, Anchorage Capital Buy Honsel Assets

Martinrea International Inc. has teamed up with Anchorage Capital Group to buy the assets of Honsel AG, a German-based supplier of aluminum components for the automotive and industrial sectors. Martinrea and Anchorage will pay 101 million euro ($139 million) in cash, and the balance in assumed liabilities. The deal is expected to close in July. Martinrea will own 55% of the entity purchasing Honsel, with Anchorage owning the remaining 45%. Martinrea's cash contribution to the purchase price will be approximately $77 million, and will be funded from credit funding sources arranged by Martinrea.

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