Mexico Alfa unit buys TK Aluminum plant in Poland for $71 Million

MEXICO CITY: Mexican conglomerate Alfa said Thursday its auto parts unit Nemak has completed the acquisition of a TK Aluminum Ltd. plant in Poland for US$71 million (€52.7 million).

The deal, announced in November, follows the acquisition of six of Bermuda-based TK Aluminum factories last month for US$414 million (€307.4 million) in exchange for a 5.64 percent equity interest in Nemak.

Last Tuesday, the European Commission cleared Nemak's purchase of the TK Aluminum assets, saying the deal would not create antitrust issues.