Terex Corp. said Tuesday that it completed the sale of its 80.5 percent ownership stake in Czech truck maker Tatra AS to Blue River s.r.o. for roughly $26.2 million in cash.
The deal also calls for the repayment of all inter-company debt owed to Terex by Tatra of about $31.6 million. Additionally, Blue River will assume Tatra`s debt, which totals about $22 million.
Blue River is a Czech-based consortium of four international private investors, led by a member of Tatra`s supervisory board.
In July, when it first announced it would sell the stake, Terex said Tatra was "non-core to Terex`s future operations."
Shares of Terex fell 31 cents to $46.56 in afternoon trading on the New York Stock Exchange.
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