MILAN (Reuters) - Italian brakes maker Brembo has bought SBS Friction in a deal valuing the Danish maker of brake pads for motorbikes at around 40.3 million euros ($48 million), including debt.
The acquisition of SBS Friction, whose brake pads are made with eco-friendly sintered and organic materials, will allow Brembo to strengthen its position in the two-wheeler sector.
Brembo will pay around 30 million euros using available cash, the Italian company said, adding the final price for the Danish firm was subject to customary adjustment mechanisms.
The agreement is expected to be finalised in the first quarter of 2021. ($1 = 0.8427 euros)
Reporting by Francesca Landini; editing by Valentina Za
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