By Josh Beckerman
Penske Automotive Group Inc. (PAG) said Monday it has agreed to
buy MTU Detroit Diesel Australia from Daimler AG (DAI.XE) and an
affiliate of Rolls-Royce Power Systems.
MTU Detroit Diesel Australia distributes diesel and gas engines
and power systems, in markets including trucking, mining, power
generation, construction and agriculture.
Penske, which has operations including car dealerships and
commercial vehicle distribution, said the deal would add about $225
million to $250 million to the company's annual revenue. In July,
Penske said second-quarter revenue rose 21% to $4.41 billion.
The acquisition is slated to close in the fourth quarter.
Penske said the addition of engine and power system distribution
operations will complement its existing truck distribution business
in Australia.
Write to Josh Beckerman at josh.beckerman@wsj.com
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