September 18, 2017 / 10:50 AM / a year ago

BRIEF-WABCO Holdings to buyout Meritor WABCO joint venture

Sept 18 (Reuters) - WABCO Holdings Inc

* WABCO consolidates operations in North American commercial vehicle market through agreement to buyout of Meritor WABCO joint venture

* After closure of buyout, agreed for Meritor to continue to be exclusive distributor for certain range of aftermarket products in U.S., Canada​

* Agreement signed to purchase Meritor Inc's stake in Meritor WABCO joint venture​

* Co, Meritor have option to terminate distribution arrangements at certain points during first three and half years​

* Parties may terminate distribution arrangements for an exercise price between $225 million and $265 million based on earnings of business​

* WABCO to continue to have exclusive access to winter test track in Sault St. Marie, joint access to year-round test track in East Liberty, Ohio

* Following closure of buyout, WABCO has agreed for Meritor to continue to be its non-exclusive distributor in Mexico​ Source text for Eikon: Further company coverage:

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