WEG S.A. entered into a definitive agreement to acquire Industrial Motors and Generators businesses from Regal Rexnord Corporation for $400 million.
The closing of the transaction, which is subject to obtaining required regulatory approvals and meeting customary closing conditions, is expected to occur in the first half of 2024. As of September 27, 2023, the transaction is subject to approval from governmental authorities in several jurisdictions and is expected to close in the second half of 2024. As of November 3, 2023, transaction is expected to close in the first half of 2024.
Guggenheim Securities, LLC is serving as financial advisor to Regal Rexnord, and Godfrey & Kahn, S.C. is serving as legal counsel. S. Wade Angus and Artur L. Badra of Jones Day acted as legal advisor to WEG S.A. and Simone Wetzstein of Walder Wyss acted as legal advisors to WEG S.A. in the transaction. Vaidhyanadhan Iyer and Jeet Chaudhuri of AZB & Partners acted as legal advisors to WEG S.A.