Horizon Global Corporation (NYSE:HZN) Files An 8-K Entry into a Material Definitive Agreement

On August 16, 2019, certain subsidiaries of Horizon Global Corporation (the “Company”) entered into a share sale and purchase agreement (the “Agreement”) with Hayman Pacific BidCo Pty Ltd (the “Purchaser”), an affiliate of Pacific Equity Partners. to the terms of the Agreement, the Purchaser has agreed to acquire the Company’s Asia-Pacific business segment for AUD $340 million in cash, subject to customary closing adjustments.

The closing of the transaction is expected to occur in the third quarter of 2019, subject to the satisfaction or waiver of customary closing conditions.

About Horizon Global Corporation (NYSE:HZN)

Horizon Global Corporation is a designer, manufacturer and distributor of a range of custom-engineered towing, trailering, cargo management and other related accessory products serving the automotive aftermarket, retail and original equipment (OE) channels. The Company operates through two segments: Cequent Americas and Cequent APEA. The Cequent Americas segment consists of two operating segments: Cequent Performance Products (CPP), a manufacturer of aftermarket and original equipment manufacturer (OEM) towing and trailering products and accessories, and Cequent Consumer Products (CCP), a provider of towing, trailering, vehicle protection and cargo management solutions serving the end user through retailers. The Cequent Americas segment has operates in North America, and its towing and trailering-related products are sold through retail, aftermarket and OE channels. The Cequent APEA segment focuses its sales and manufacturing efforts outside of the Americas, operating in Australia.