Dana's Off-Road division manufactures mobile transmissions and propulsion systems for heavy-duty vehicles used in construction, agriculture, material handling, mining, forestry and industrial applications.
In November, Dana announced plans to sell the business as part of a cost-cutting campaign to overcome macroeconomic pressures and simplify its business.
“The sale of the off-road business supports our strategy to become an efficient supplier of passenger and commercial vehicles with traditional and electrified systems,” said Dana CEO Bruce McDonald.
The deal, which is scheduled to close by the end of the fourth quarter, is expected to generate $2.4 billion in net proceeds.
The off-road division accounted for nearly 27% of Dana's total revenue of $10.28 billion in 2024.
Goldman Sachs and Morgan Stanley are financial advisors to Dana, and BofA Securities is advising Allison.
Source: Reuters
