January 21, 2019 / 4:26 PM / a month ago

Thor takeover target Hymer suspends managers after accounting flaws

FRANKFURT, Jan 21 (Reuters) - German family-owned caravan maker Erwin Hymer Group, which is being taken over by U.S. peer Thor Industries, said on Monday that it has suspended managers amid an investigation into accounting irregularities.

Hymer said that it is currently probing activities of its North America unit and that it is working with external auditors on the matter.

Thor, which announced in September that it would buy Hymer in a 2.1 billion euro ($2.4 billion) deal, said earlier on Monday that it was finalizing discussions with Hymer to exclude the North American operations from the deal.

Thor added that it expects the acquisition to be completed within company's fiscal third quarter. ($1 = 0.8799 euros) (Reporting by Arno Schuetze Editing by Ludwig Burger)

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