Spirax-Sarco Buys 51% Stake in Spirax-Sarco Mexicana

Dow Jones--Spirax-Sarco Engineering PLC said Tuesday it has acquired from its local partners the remaining 51% voting equity in its Mexican operating company, Spirax-Sarco Mexicana S.A., which was previously 49% owned by the Group and accounted as an Associate.

The purchase consideration for the 51% of Spirax Mexico not previously controlled by the Group is MX$201.9 million (GBP10.7 million), which will be settled in installments over an expected five year period from existing Group resources. More…