Following clearance from competition authorities, the previously announced divestment of the Traction Systems Division was closed on 31 January 2011.
The Board of Directors of Haldex has decided to divest its Traction Systems division (“Traction”) to BorgWarner Inc (“BorgWarner”)
The purchase price amounts to SEK 1 425 m on a cash and debt free basis
The price corresponds to nearly 14 times historic earnings and provides maximum value for Haldex shareholders
Investment AB Öresund, Afa Försäkring, Göran Carlson through companies and Unionen have formed a Nomination Committee before the 2011 Haldex Annual General Meeting. Together these owners represented 23.4% of the votes in Haldex AB as per November 30, 2010.