Inenco Group: Genuine Parts buys remaining 65% stake of Australian industrial distributor

Genuine Parts is purchasing the remaining majority stake of an industrial distributor that spans Australia and New Zealand. Genuine Parts Company (NYSE: GPC) said Wednesday Inenco Group satisfied the terms and conditions of the companies' previous agreement, allowing the Atlanta-based business to purchase the remaining 65% of the company. Genuine Parts purchased a 35% stake in Inenco on April 3, 2017 for $72.1 million and held the opportunity to acquire the remaining stake at a later date. Details...