Peugeot family holding company FFP said on Wednesday it has raised its stake in French carmaker PSA by 2% to 14.38 percent%. FFP also said in a statement it also holds 19.36% of PSA’s voting rights. The holding company...
Omega Seiki ties up with CK Motors for electric three-wheeler sales in South India
Omega Seiki Mobility on Monday announced a partnership with CK Motors for sales and services of its entire electric three-wheeler range in South India. The partnership will cover Tamil Nadu, Karnataka, Kerala and Union...
L&T sells UK marine tech arm Servowatch Systems to Rolls-Royce
Engineering major Larsen & Toubro has signed a pact to sell its UK-based integrated marine automation solutions unit Servowatch Systems to Rolls-Royce, the two companies announced on Wednesday. The divestment is a...
Bajaj Auto, Pierer Industrie AG start preliminary talks on stake transfer
Bajaj Auto on Tuesday said it has started preliminary discussion with its Austrian partner Pierer Industrie AG for simplifying their shareholding pattern in premium bike maker KTM by transferring their stakes to a new...
Top FCA, PSA investors tighten grip as merger approaches
Top shareholders in merging carmakers Fiat Chrysler (FCA) and Peugeot maker PSA have moved to tighten their grip on the combined business and head off any potential hostile bidders. A prospectus for the deal, which will...
Fiat Chrysler, PSA shareholders to vote on merger on January 4
Fiat Chrysler and PSA shareholders will meet on Jan. 4 to approve their planned merger and create Stellantis, the world’s fourth-biggest car maker, the two companies said on Wednesday. In December, Italian...
Mitsubishi invests in TVS Supply Chain Solutions for minority stake
TVS Supply Chain Solutions (TVS SCS), a leading supply chain management services company and part of the $8.5 bn TVS group, today announced that Mitsubishi Corporation (MC), Japan, has invested in TVS SCS for a minority...
SsangYong’s plans to sell to Haah Automotive hits roadblocks
Roadblocks could have come in the way of a change of control in SsangYong Motors even as Mahindras are battling against time to revive their ailing Korean venture. Informed sources say valuation issues may have cropped...
Ather Energy raises $35 million in funding round led by Sachin Bansal
Hero MotoCorp-backed electric two-wheeler maker Ather Energy on Saturday said it has raised funds to the tune of USD 35 million in a funding round led by Flipkart co-founder Sachin Bansal’s investment of USD 23 million...
Volkswagen truck unit Traton finalises $3.7 billion Navistar acquisition deal
Volkswagen AG’s truck unit Traton SE has agreed to pay about $3.7 billion for the outstanding shares of U.S. truck maker Navistar International Corp in a deal announced on Saturday that would extend its reach in...
Fiat Chrysler, PSA win Brazil antitrust approval for merger
Fiat Chrysler and Peugeot maker PSA have won a green light from Brazil’s competition watchdog for their planned $38 billion mergers, the regulator said. Brazil’s CADE said in a document on its website that it had...
Aston Martin hikes yield on $1.1 billion junk bond sale to 10.5%
British luxury carmaker Aston Martin has increased the yield on offer for its $1.1 billion junk bond sale to around 10.5%, according to a lead manager on the deal, making it one of the highest-yielding bond issues in...
