US-based private equity major TPG Capital sold its entire 11.25 per cent stake in automobile dealership chain Landmark Cars for Rs 293 crore through an open market transaction. With this transaction, TPG has exited the...
Lordstown Motors founder sells remaining stake in EV startup
Lordstown Motors founder and former CEO Stephen Burns has sold his entire stake in the electric-vehicle maker, according to a regulatory filing. The company in May implemented a reverse stock split to comply with...
Avtovaz completes deal to buy Renault-Nissan’s Russian finance business
Russian carmaker Avtovaz has completed the acquisition of RN Bank, a joint venture between Italian lender UniCredit and the Renault-Nissan-Mitsubishi Alliance, the company said on Wednesday. President Vladimir...
Global Auto Holdings to buy car dealership chain Lookers for $595 million
Global Auto Holdings will buy British car dealership chain Lookers for about 465.4 million pounds ($595 million) in cash, the companies said on Tuesday. Global Auto Holdings values Lookers at 120 pence per share, a...
JBM Auto leading contender to acquire controlling stake in SML Isuzu: Report
Auto components and equipment maker, JBM Auto is the leading contender to acquire a controlling stake in automaker SML Isuzu, according to media reports. SML Isuzu’s Japanese promoters are looking to exit the...
Samvardhana Motherson arm to buy Cirma SAS for Rs 7.2 million
Auto components maker Samvardhana Motherson International Ltd on Thursday said its arm Samvardhana Motherson Automotive Systems Group BV will fully acquire French entity Cirma Entreprise SAS at an enterprise value of 7...
Sajjan Jindal likely to acquire up to 48% in MG Motor India, make it an Indian company
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...
