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General Automotive is a supplier of original equipment and aftermarket automotive parts, mobile electronics, and related products.
Announcement (May 5, 2009):
General Automotive has signed a non-binding letter of intent to acquire EPI in an all stock transaction.
Under terms of the non-binding letter of intent, General Automotive would issue 4 million shares of restricted common stock to the owners of EPI. EPI's stockholders could gain an additional 4 million shares over the next six years.
Deal Type Acquisition Sub-Category Majority Acquisition Deal Status Terminated: 2009-05-15
Deal Participants
Target (Company) Europacific Parts International, Inc. Acquirer (Company) General Automotive Company
Deal Rationale
The transaction is expected to further position General Automotive to capitalize on growing consumer preferences for extending the life of their vehicles in the current economic downtown.
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