LKQ Corporation (NASDAQ:LKQ) announced that it has signed an agreement to acquire the holding company of Rhiag-Inter Auto Parts Italia S.p.A, a European distributor of aftermarket parts, for €1.04 billion ($1.13 billion). Rhiag has operations in Italy, Czech Republic, Switzerland, Hungary, Romania, Ukraine, Bulgaria, Slovakia, Poland and Spain. The company operates through 247 distribution centers and 10 warehouses, and serves more than 100,000 professional clients.
The transaction is expected to be completed early in the second quarter of 2016 and is subject to customary closing conditions and necessary regulatory approvals.
“Rhiag expands our addressable market with the addition
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