Tenneco has announced an agreement to sell Öhlins Racing, a renowned manufacturer of high-quality suspension technology, to Brembo, a global leader in high-performance braking systems. Tenneco is committed to supporting its customers, employees, and stakeholders throughout this transition. On the Brembo side, BofA Securities is acting as financial advisor, while Simpson Thacher & Bartlett and BonelliErede are handling legal advisory services. “As we join forces with Brembo, we are excited to unlock new growth opportunities and leverage our respective strengths and assets to drive innovation and deliver even greater value to our customers and employees,” said Tom Wittenschlaeger, CEO of Öhlins Racing. It is a world-renowned brand, with a solid business and an unrivaled reputation, both on the racetrack and the road,” said Matteo Tiraboschi, Brembo Executive Chairman.

Source: New York Times October 14, 2024 06:12 UTC