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...
M&M to consolidate its shared mobility business
Mahindra & Mahindra Ltd (M&M) plans to bring all the cab aggregator businesses, the company has invested in, under its newly constituted shared mobility vertical, a senior company executive told Mint on Saturday...
VW offers to buy out minority shareholders in Audi
Volkswagen said on Friday it had offered to buy out minority shareholders in its premium brand Audi AG, via a so-called squeeze-out offer. Volkswagen AG already holds 99.64% of the registered share capital of Audi AG...
Shriram Automall acquires online car selling portal BlueJack
Pre-owned vehicle exchange platform Shriram Automall India Ltd (SAMIL) on Monday said it has acquired BlueJack, an online car selling portal. The company did not disclose the financial details of the deal. With this...
GM shuts Australia, New Zealand operations; sells Thai plant to Great Wall
General Motors Co said it would wind down its Australian and New Zealand operations and sell a Thai plant in the latest restructuring of its global business, costing the U.S. automaker $1.1 billion. The moves will...
Great Wall says to buy GM’s Thailand car plant
China’s Great Wall Motor said on Monday it had signed a binding agreement to purchase a car plant from General Motors in Thailand. Great Wall said in a statement it expects to complete transaction of Rayong car plant...
Competition Commission gives nod for M&M, Ford Motor joint venture
The Competition Commission has approved Mahindra & Mahindra’s acquisition of majority stake in a wholly-owned subsidiary of Ford Motor Co, which will create a joint venture in the country. In October last...
