Tenneco Inc. (NYSE:TEN) entered into a definitive agreement to acquire majority stake in Ohlins Racing AB for approximately $160 million on November 15, 2018. Pursuant to the terms of agreement, founder of Ohlins Racing, Kenth Öhlin will retain minority stake. Upon completion, Ohlins will become subsidiary of Tenneco. For trailing twelve months ended September 30, 2018, Ohlins Racing reported revenues of approximately $130 million. The transaction is subject to regulatory approvals and other customary closing conditions. The transaction is expected to complete in first quarter of 2019. Tenneco Inc. (NYSE:TEN) completed the acquisition of majority stake in Ohlins Racing AB on January 10, 2019.