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22.12.2015 21:29:00
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Rhiag S.A. -- Moody's says LKQ's planned acquisition of Rhiag Group is credit negative; LKQ's Ba1 CFR unaffected
New York, December 22, 2015 -- Moody's Investors Service said that LKQ Corporation's ("LKQ") (Ba1 stable) plan to buy Italy-based, Rhiag Group ("Rhiag") from Apax partners for EUR1.0 billion ($1.1 billion) does not affect the ratings of either company, although it is a negative development for LKQ. Rhiag is a leading distributor of spare parts primarily for passenger cars as well as commercial vehicles in the independent Italian aftermarket and one of the largest players across Eastern Europe.
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