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Auto-parts supplier Autokiniton closes acquisition of Tower International

Autokiniton US Holdings Inc. said Sept. 30 that it completed its acquisition of auto-parts maker Tower International Inc. for $31 per share in cash.

Autokiniton US Holdings is a unit of Autokiniton Global Group LP, which supplies metal-formed components and complex assemblies to the automotive industry.

On closing of the deal, Tower International will become a wholly owned subsidiary of Autokiniton US Holdings and its shares will no longer trade on the NYSE.

Autokiniton Global is a portfolio company of venture capital firm KPS Capital Partners LP.