Meritor to Sell Its Stake in Brazilian Parts Venture

Meritor Inc. has agreed to sell its 50% equity holding in a Brazilian automotive suspensions joint venture to partner Randon S.A. Implementos E Participacoes for $195 million in cash and other unspecified considerations.

The companies expected to complete the deal by Sept. 30, pending regulatory approvals.

The 11-year old venture, Suspensys Sistemas Automotivos LTDA, makes air and mechanical suspension systems and other parts for trucks, buses and trailers.