The Timken Company (NYSE:TKR*) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry into a Material Definitive Agreement.
On June27, 2017, Timken Europe B.V. (the “Purchaser”), a subsidiary of The Timken Company (the “Company”), entered into a share purchase agreement (the “Purchase Agreement”) with H.J. Groeneveld to which the Purchaser agreed to purchase all of the outstanding share capital of Wenjo B.V. (the “Groeneveld Group”), for an agreed upon enterprise value of €250million (approximately $285 million at current exchange rates), plus the net value of Groeneveld Group’s cash acquired through a “locked box” mechanism and other items. The Groeneveld Group is a leading provider of automatic lubrication solutions used in on- and off-highway applications.
Item 1.01 Completion of Acquisition or Disposition of Assets.
On July3, 2017, the Purchaser completed the acquisition of the Groeneveld Group to the terms of the Purchase Agreement. The disclosure under Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.
Item 1.01 Financial Statements and Exhibits.
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Exhibit |
Description |
| 2.1* | Share Purchase Agreement, dated June 27, 2017, between H.J. Groeneveld and Timken Europe B.V. |
* Certain exhibits and schedules have been omitted and the Company agrees to furnish supplementally to the Securities and Exchange Commission a copy of any omitted exhibits and schedules upon request
TIMKEN CO ExhibitEX-2.1 2 d601373dex21.htm EX-2.1 EX-2.1 Table of Contents Exhibit 2.1 SHARE PURCHASE AGREEMENT 27 June 2017 relating to the sale and purchase of the entire issued share capital of WENJO B.V. between MR. H.J. GROENEVELD as Seller and TIMKEN EUROPE B.V. as Purchaser Project Grease – share purchase agreement Table of Contents TABLE OF CONTENTS Clause Page 1 DEFINITIONS AND INTERPRETATION 4 2 SALE,…To view the full exhibit click here
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