Brazil's Tupy set to buy Traton-owned motor maker MWM, shares soar

FILE PHOTO: Trucks are parked at a yard of the manufacturing plant of International brand commercial trucks, owned by Navistar, in Escobedo, on the outskirts of Monterrey, Mexico, June 29, 2017. REUTERS/Daniel Becerril

SAO PAULO (Reuters) - Brazilian auto parts company Tupy SA has signed a deal to buy motor maker MWM, formally known as International Industria Automotiva da America do Sul, Tupy said on Monday, sending its shares sharply higher.

The deal has an enterprise value of 865 million reais ($184.2 million), Tupy said in a securities filing.