TVS Motor Company on Friday announced that it has acquired Britain’s iconic sporting motorcycle, “Norton”, in an all-cash deal for consideration of GBP16 million by acquiring certain assets of Norton Motorcycles (U.K.)...
Mahindra & Mahindra to raise ₹1,000 crore via NCDs
Mahindra & Mahindra (M&M) on Friday said it will raise up to ₹1,000 crore by issuing securities on private placement basis. “The loans and investment committee at its meeting held on Friday approved...
Renault quits its main China venture after weak sales
French automaker Renault SA is ditching its main passenger car business in China following poor sales at the loss-making venture with Dongfeng Motor Group. A slowdown in Chinese automotive sales, which is expected to...
Fiat Chrysler and Peugeot speed up work to close the merger
Working groups at car makers Fiat Chrysler (FCA) and Peugeot’s owner PSA are speeding up work on closing their alliance deal despite the coronavirus crisis, PSA chief executive officer Carlos Tavares said in an internal...
Hit by coronavirus, Fiat Chrysler, Peugeot seek to boost cash before merger
With their sales hammered by the coronavirus outbreak, car makers Fiat Chrysler and Peugeot’s owner PSA have postponed their shareholder meetings and are looking at ways to boost cash reserves ahead of their planned...
Promoters raise stakes in auto firms as equities crash
Promoters of automobile and auto ancillary companies such as Hero MotoCorp Ltd, Bajaj Auto Ltd, and Tata Motors Ltd have stepped up open market purchases of equity shares and other financial instruments in the past few...
EU antitrust regulators pause Hyundai, Daewoo deal probe
EU antitrust regulators have halted their investigation into world No. 1 shipbuilding group Hyundai Heavy Industries’ $1.8 billion merger with Daewoo while waiting for the companies to provide information. The European...
Mitsubishi Corp could take Renault stake in alliance rejig: sources
Japan’s Mitsubishi Corp could potentially invest in Renault as part of scenarios being discussed to reinforce an alliance between the French carmaker, Nissan and Mitsubishi Motors, two sources familiar with the matter...
Ashok Leyland to pare stake buy in HLFL
Amid protests from the minority shareholders and a telling rout in stock prices, the Ashok Leyland board has decided to acquire a lower stake in its subsidiary, Hinduja Leyland Finance (HLFL), slashing the investment to...
BMW CEO says sees no need for BMW to participate in large-scale M&A
German carmaker BMW will not engage in large merger and acquisition deals, even if the coronavirus crisis adds pressure on companies to share costs, Chief Executive Oliver Zipse said on Thursday. “There is currently no...
Ashok Leyland to acquire additional 19% stake in Hinduja Leyland Finance
Hinduja Group flagship Ashok Leyland Ltd has announced plans to acquire upto 19 per cent of additional equity shares in Hinduja Leyland Finance Ltd (HLFL), the Non-Banking Finance Company (NBFC) part of the Group, from...
Volkswagen says it still wants to buy Navistar but also needs to conserve cash
Volkswagen on Tuesday said it still wants to buy out U.S. truckmaker Navistar but added that the coronavirus crisis will require the carmaker to conserve cash as it shuts down plants and throttles back production. “The...
