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The $52 million deal is expecteds to close inearly Coburg-based Monaco (Pink MCOAQ) in March filed for Chapter 11 bankruptcy protection and laid off the majority of its 2,2245 remaining employees. It had earlier been looking for buyerws for its RV manufacturing operations and motorhomeeresorts business. On April 27 the company announced it had an acceptedc an offerfrom Warrenville, Ill.-based Navistar that includes certaibn manufacturing facilities in Indiana and as well as all brands, intellectual property, inventories, and equipmeny relating to the company’s motorized and towable recreationalk vehicle segments.
Navistar (NYSE: NAV) is manufacturer of commerciapl andmilitary vehicles, as well as diesel engines and related services. It has $15 billioh in annual sales and a markert capof $2.4 billion. Monaco at the time warned that the proceedsw of the sale will cover payments to creditors, but it won’t likel y result in any additional funds being distributed to
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