This excerpt taken from the SHS 8-K filed Mar 27, 2007.
Item 1.01. Entry Into a Material Definitive Agreement
On March 21, 2007, Sauer-Danfoss Holding ApS (SD Holding), a Danish subsidiary of Sauer-Danfoss Inc. (the Company), a Delaware corporation, entered into an Agreement for Sale and Assignment of Shares (the Agreement) with Aurelius Industriekapital GmbH (Aurelius), a German limited liability company. Pursuant to the Agreement, SD Holding has agreed to sell to Aurelius all of the outstanding capital interests in Sauer-Danfoss (Berching) GmbH (Berching), a German limited liability company that is wholly owned by SD Holding. The divestiture of the Companys Berching operation, which manufactures DC motors and drive systems, is in furtherance of the Companys announced intention to dispose of certain non-strategic product lines. Berchings sales in 2006 were approximately $44 million, or about 2.5% of the Companys 2006 worldwide revenue.
Closing of the Agreement is scheduled to occur on March 30, 2007, subject to the fulfillment of conditions set forth in the Agreement. The Agreement contains representations, warranties, and indemnities by SD Holding that are customary for a transaction of this type.
Other than in respect of the Agreement, Aurelius does not have any material relationship to SD Holding or the Company.
Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.