Tenneco Completes Divestment of Öhlins Racing to Brembo

NORTHVILLE, Mich., January 2, 2024 – Tenneco announced today it has completed the sale of Öhlins Racing, a leading manufacturer of premium suspension technology, to Brembo, a global leader in the manufacturing of high-performance braking systems and components. The sale at an enterprise value of $405 million marks a key milestone in advancing Tenneco’s strategic priorities and allows for meaningful reinvestment and / or deleveraging.

Jefferies LLC acted as lead financial advisor to Tenneco. Barclays also acted as financial advisor and Sidley Austin LLP as legal advisor.

About Tenneco
Tenneco is one of the world's leading designers, manufacturers, and marketers of automotive products for original equipment and aftermarket customers. Through our DRiV, Performance Solutions, Clean Air and Powertrain business groups, Tenneco is driving advancements in global mobility by delivering technology solutions for light vehicle, commercial truck, off-highway, industrial, motorsport and the aftermarket.

Visit www.tenneco.com to learn more.

CONTACT
Alexandra Iordache
Vice President, Global Communications
Tenneco
Alexandra.Iordache@tenneco.com