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Fuel Systems Solutions, Inc.
Fuel Systems Solutions Enters a Definitive Agreement to Acquire Argentine Gaseous Fuels Equipment and Technology Manufacturer Distribuidora Shopping S.A. for $22 Million
SANTA ANA, Calif., Dec. 19, 2008 (GLOBE NEWSWIRE) -- Fuel Systems Solutions, Inc. (Nasdaq:FSYS) is pleased to announce that its Italian operating subsidiary, MTM S.r.L., signed an agreement to acquire Distribuidora Shopping S.A. (DS), a privately held manufacturer of components and systems for the compressed natural gas (CNG) vehicle market. The transaction, which is expected to close in January 2009, is subject to customary closing conditions. The transaction value of $22 million is subject to adjustment for any closing indebtedness and the selling shareholders will receive $10.0 million of Fuel Systems common stock as part of the purchase consideration.