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TEN > SEC Filings for TEN > Form 8-K on 19-Sep-2013All Recent SEC Filings

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Form 8-K for TENNECO INC


19-Sep-2013

Other Events


ITEM 8.01 OTHER EVENTS

On September 18, 2013, a subsidiary of Tenneco Inc. entered into an agreement to acquire the 20 percent equity interest in Tenneco Tongtai (Dalian) Exhaust System Co., Ltd. ("TTEC"), the company's joint venture in Dalian, China, not already held by the company. As a result of this purchase, TTEC will become a wholly owned indirect subsidiary of Tenneco. The purchase price for the 20 percent equity interest will be approximately $69 million. The current joint venture partner will also receive an additional amount of approximately $9 million in lieu of receiving its pro-rata share of the fiscal year 2013 dividend from the joint venture. The closing of the purchase is subject to customary closing conditions and is expected to occur in two stages during the fourth quarter of 2013 and the first quarter of 2014.

The disclosures herein include statements that are "forward looking" within the meaning of federal securities law concerning the potential acquisition of the equity interest in TTEC by the company. Tenneco's ability to complete the transaction will depend upon its ability to secure requisite governmental approvals, among other factors. The forward-looking statements are subject to these and other risks and uncertainties that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements.


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