Renault and Nissan have shelved plans to push towards the full merger former leader Carlos Ghosn craved and will instead fix their troubled alliance to try to recover from the coronavirus pandemic, five senior sources...
FCA-PSA deal terms ‘set in stone’ for 50-50 merger
Terms of a planned merger between Fiat Chrysler and Peugeot-owner PSA are set in stone, FCA’s chairman said on Wednesday, brushing off talk that some aspects of the deal might be re-negotiated because of the COVID-19...
Fiat Chrysler/Peugeot deal in spotlight after Exor setbacks
Fiat Chrysler’s decision to scrap its dividend marks another setback for plans by the Agnelli family’s Exor arm to raise cash after a $9 billion sale of its reinsurer unit PartnerRe collapsed this week. Fiat Chrysler...
EU regulators to decide on $50 billion Fiat Chrysler, Peugeot deal by June 17
EU antitrust regulators will decide by June 17 whether to clear Fiat Chrysler and Peugeot maker PSA’s $50 billion merger, according to a European Commission filing on Monday. The companies announced the deal to create...
Auto parts maker BorgWarner on track to close Delphi buyout this year
Auto parts maker BorgWarner said on Wednesday it had resolved a dispute with UK-based smaller rival Delphi Technologies and was on track to acquire it by the second half of 2020. Delphi and BorgWarner, which make auto...
Tata Motors gets nod to raise ₹1,000 crore via NCDs
Tata Motors on Tuesday said a board constituted committee has approved raising up to ₹1,000 crore via issue of non-convertible debentures on a private placement basis. A meeting of the duly authorised committee held on...
Car dealership Pendragon no longer exploring merger with Lookers
British auto retailer Pendragon Plc said on Monday it was no longer exploring merger talks with rival Lookers Plc, after a media report over the weekend said that Lookers rejected its approach. The coronavirus shut...
Continental delays Vitesco spin-off, blaming market turmoil
German car parts maker Continental said on Thursday it was postponing the planned spin-off of its powertrain unit Vitesco Technologies, citing ongoing economic uncertainty for the delay. The spread of the coronavirus...
TVS Motor to raise ₹500 crore by issuing NCDs
The board of directors of TVS Motor Company Ltd, in a meeting held earlier today, approved the issuance of non-convertible debentures or NCDs aggregating up to ₹500 crore on a private placement basis, the company said...
Ashok Leyland acquires 3.36% share in Hinduja Leyland Finance
Hinduja Group flagship Ashok Leyland Ltd has acquired 15,796,406 shares of Rs 10 each constituting 3.36 per cent of the equity of its subsidiary Hinduja Leyland Finance Ltd for Rs 187.97 crore. The acquisition is part...
Daimler teams up with Volvo Trucks in fuel cell venture
Daimler and Volvo Trucks have agreed to join forces to develop, produce and sell fuel cell systems for heavy-duty vehicles, in a sign that the coronavirus crisis is accelerating consolidation. Global car and truck...
Norton acquisition brings TVS Motor face-to-face with Royal Enfield
The acquisition of iconic British motorcycle brand Norton brings the Chennai-based TVS Motor Company Ltd face-to-face with Royal Enfield in the niche category of age-old classic motorcycles not only in India but also in...
