The renowned Brazilian bus manufacturer, through Marcopolo Canada Holdings Corp, announced that it will change its stake within the Canadian multinational NFI, after making its first investment through shares acquired in 2013 in the Canadian company, and after the sale of part of these actions in 2016, now the Brazilians are making a new bet on the North American bus conglomerate.
New FIyer Industries Group is the largest bus and coach manufacturer and parts distributor in North America, with manufacturing, distribution and service centers in Canada and the United States, and employs approximately 5,000 team members. This company owns Alexander Dennis, ARBOC Specialty Vehicles, Motor Coach Industries, New Flyer, Plaxton, NFI Parts, and Carfair Composites. The company is listed on the Toronto Stock Exchange under the symbol NFI and is a component of the Canadian Stock Exchange.
On May 31, Marcopolo announced that it will once again change its stake in NFI, which currently stands at 8.5% in the Canadian company. The amount of the investment could be around 19%, through the acquisition of 3.1 million in shares.
The final closing of the investment is conditional on specific terms of the operation, Marcopolo said, including the approval of the capital increase by shareholders at an Extraordinary General Assembly (AGE) scheduled for June 27. Both companies have been exploring opportunities to cooperate on engineering, technical, purchasing and operational matters and evaluating Marcopolo's capacity. technology and products for possible introduction into the Canadian and US markets through New Flyer, as well as New Flyer technology and products for possible distribution in global markets.