Mahindra & Mahindra (M&M) has acquired 58.96% controlling stake in SML Isuzu with a total investment of INR 555 crore. SML Isuzu Ltd. will be renamed to ‘SML Mahindra Limited’ after regulatory approvals...
Automobile
Tata Motors to acquire Iveco’s commercial vehicle business for €3.8 billion, excluding defence unit
India’s Tata Motors has agreed to acquire the commercial vehicle business of Italy-based Iveco Group through an all-cash offer valuing the company at approximately €3.8 billion ($4.4 billion), the company announced on...
Tata Motors set to acquire Italian truck maker Iveco for $4.5 billion in its biggest deal to date
Tata Motors is all set to buy Italian truck maker Iveco from its principal shareholder, the Agnelli family, for $4.5 billion (3.9 billion, making it the Tata Group’s second-largest acquisition after Corus and the...
Harley-Davidson in talks to sell stake in financing unit: Report
Harley-Davidson is in talks with Pacific Investment Management Co and KKR & Co. to sell a stake in its financing unit and existing motorcycle loan portfolio in a deal worth $5 billion, Bloomberg News reported on...
CCI okays Renault group’s stake buy in Renault Nissan Automotive India
The Competition Commission of India, the chief national competition regulator, on Monday announced that it has approved the acquisition of certain shareholding of Renault Nissan Automotive India Private Limited by...
Tata Motors approaches Italy’s Agnelli family to buy controlling stake in Iveco
Italy’s Agnelli family is in talks over the possible sale of truck maker Iveco, three sources told Reuters, with two mentioning Tata Motors as a potential buyer. India’s Tata Motors has approached Exor, the...
Chinese carmaker Geely to take Zeekr unit private at $6.83 billion valuation
Geely Automobile will take its premium electric vehicle unit Zeekr private at a $6.83 billion valuation, as the Chinese automaker streamlines its business and sharpens its competitive edge. Under the agreement, Geely...
JSW Group to increase stake in JSW MG Motor India amid SAIC’s exit from Indian Market
JSW Group plans to raise its stake in JSW MG Motor India, its car manufacturing joint venture with SAIC Motor. The Chinese company has decided against committing further capital to India, instead prioritising...
Volvo sells stake in China’s SDLG in strategic revamp
Volvo Group on Tuesday said it would sell its 70% stake in China’s Shandong Lingong Construction Machinery Co (SDLG) and buy its European construction equipment supplier Swecon as it looks to refocus on core...
CCI okays Mahindra’s proposal to acquire 59 pc stake in SML Isuzu for Rs 555 crore
The Competition Commission of India (CCI) on Tuesday cleared Mahindra & Mahindra’s proposed acquisition of a nearly 59 per cent stake in commercial vehicle maker SML Isuzu for Rs 555 crore. Mahindra &...
Nissan plans to reduce stake in Renault, CEO Espinosa tells Nikkei
Nissan Motor CEO Ivan Espinosa said that the company plans to reduce the automaker’s stake in French partner Renault, the Nikkei business newspaper reported on Monday. Nissan and Renault had said in March they had...
Auto parts maker Dana to sell unit to Allison Transmission for $2.7 billion
Dana will sell its off-highway business to Allison Transmission for $2.7 billion, the auto parts makers said on Wednesday. Shares of the Maumee, Ohio-based Dana rose 7% after the bell. Its board authorized a $1 billion...
