A private company owned by Sajjan Jindal, chairman of JSW Group, aims to buy into MG Motor India, a wholly owned arm of Shanghai-headquartered SAIC Motor, said people with knowledge of the matter. The group’s...
Russia approves sale of Volkswagen assets for about $140 mln
Russia’s government has approved a deal for Volkswagen to sell its Russian assets to auto dealer group Avilon for up to 125 million euros ($137.6 million), the Interfax news agency reported on Tuesday, citing a...
China’s SAIC Motor plans to sell its stake in MG Motor to domestic entities
China’s SAIC Motor will be taking a step back as it plans to dilute its stake in MG Motor India in the next few years, reported Times of India. China’s automotive giant holds a majority stake in the Indian...
MG Motor India plans stake sale to fuel expansion
MG Motor India, a subsidiary of China’s SAIC Motor, is looking at diluting its majority stake in the company to Indian entities to fund its expansion plans in the country over the next five years. It plans to invest Rs...
Minda seeks CCI nod to buy 24.5% in Pricol
Auto parts maker Minda Corporation on Tuesday sought the Competition Commission of India’s (CCI) approval to buy 24.5% stake in rival Pricol Ltd, according to a regulatory filing. Minda had in February bought a 15.7%...
Mercedes-Benz exits Russian market with buyback option
Mercedes-Benz said it had completed its exit from the Russian market, selling shares in its Russian subsidiaries to local investor Avtodom but with a buyback option to keep doors open for a possible return. Mercedes...
JSW Group in talks with MG Motor India, BYD India to pick up stake
Sajjan Jindal-led conglomerate JSW Group is in talks with MG Motor India to pick up stake in the automobile company, according to sources. The steel-to-sports group is also exploring purchase of stake in BYD India, they...
Kuwait Investment Authority cuts stake in Mercedes-Benz
Kuwait’s sovereign wealth fund, Mercedes-Benz’s third-largest shareholder, is planning to reduce its stake in the German luxury carmaker via the sale of 20 million shares, according to book runners. At price...
Uno Minda to acquire 81.69% stake in Kosei Minda Aluminium, 50% stake in Kosei Minda Mould
Auto components maker Uno Minda Ltd said its board has approved the acquisition of a 81.69 per cent stake in Kosei Minda Aluminium and a 49.90 per cent stake in Kosei Minda Mould from JV partner Kosei, Japan. The move...
Mahindra fully acquires MITRA Agro Equipments
Mahindra & Mahindra said it has fully acquired MITRA Agro Equipments Pvt Ltd for an undisclosed amount. The company’s Farm Equipment Sector (FES) has increased its stake in MITRA Agro Equipments Pvt Ltd (M.I.T...
Samvardhana Motherson to acquire Fritzmeier Motherson Cabin for ₹110.7 cr
Samvardhana Motherson International Ltd (SAMIL) announced that the board has approved the acquisition of remaining 50 per cent stake of Fritzmeier Motherson Cabin Engineering Private Limited from F Holdings GmbH...
Hyundai inks deal to acquire GM India’s Talegaon manufacturing facility
Korean auto major Hyundai Motor said it has signed a term sheet for potential acquisition of General Motors’ manufacturing facility at Talegaon in Maharashtra. “The term sheet covers the proposed acquisition...
