Stockholm, Sweden—Trelleborg A.B. has completed the sale of its shares in Vibracoustic GmbH to Freudenberg and Co. KG.
The transaction, which was announced on 7 April, has received all necessary approvals from relevant authorities, making Freudenberg the sole owner of the anti-vibration products business.
Trelleborg valued the deal at around SEK6.8 billion (€714 million) and said it would result in a capital gain of about SEK4.6 billion.
Originally called TrelleborgVibracoustic when the joint venture was formed in 2012, the company consisted of Trelleborg’s automotive and Freudenberg’s corresponding anti-vibration solutions operation. It was owned in equal shares by Trelleborg and Freudenberg.
It was renamed Vibracoustic in April just before the deal was announced in April.