MG Motor India, a subsidiary of China’s SAIC Motor, is looking at diluting its majority stake in the company to Indian entities to fund its expansion plans in the country over the next five years. It plans to invest Rs...
Minda seeks CCI nod to buy 24.5% in Pricol
Auto parts maker Minda Corporation on Tuesday sought the Competition Commission of India’s (CCI) approval to buy 24.5% stake in rival Pricol Ltd, according to a regulatory filing. Minda had in February bought a 15.7%...
Mercedes-Benz exits Russian market with buyback option
Mercedes-Benz said it had completed its exit from the Russian market, selling shares in its Russian subsidiaries to local investor Avtodom but with a buyback option to keep doors open for a possible return. Mercedes...
JSW Group in talks with MG Motor India, BYD India to pick up stake
Sajjan Jindal-led conglomerate JSW Group is in talks with MG Motor India to pick up stake in the automobile company, according to sources. The steel-to-sports group is also exploring purchase of stake in BYD India, they...
Kuwait Investment Authority cuts stake in Mercedes-Benz
Kuwait’s sovereign wealth fund, Mercedes-Benz’s third-largest shareholder, is planning to reduce its stake in the German luxury carmaker via the sale of 20 million shares, according to book runners. At price...
Uno Minda to acquire 81.69% stake in Kosei Minda Aluminium, 50% stake in Kosei Minda Mould
Auto components maker Uno Minda Ltd said its board has approved the acquisition of a 81.69 per cent stake in Kosei Minda Aluminium and a 49.90 per cent stake in Kosei Minda Mould from JV partner Kosei, Japan. The move...
Mahindra fully acquires MITRA Agro Equipments
Mahindra & Mahindra said it has fully acquired MITRA Agro Equipments Pvt Ltd for an undisclosed amount. The company’s Farm Equipment Sector (FES) has increased its stake in MITRA Agro Equipments Pvt Ltd (M.I.T...
Samvardhana Motherson to acquire Fritzmeier Motherson Cabin for ₹110.7 cr
Samvardhana Motherson International Ltd (SAMIL) announced that the board has approved the acquisition of remaining 50 per cent stake of Fritzmeier Motherson Cabin Engineering Private Limited from F Holdings GmbH...
Hyundai inks deal to acquire GM India’s Talegaon manufacturing facility
Korean auto major Hyundai Motor said it has signed a term sheet for potential acquisition of General Motors’ manufacturing facility at Talegaon in Maharashtra. “The term sheet covers the proposed acquisition...
Hyundai Motor’s India unit to buy plant from General Motors
The Indian arm of Hyundai Motor Co said it had signed a term sheet to buy General Motors Co’s plant in the western state of Maharashtra. The term sheet covers proposed acquisition of land and buildings, certain...
Schaeffler plans to sell Russia business to Austrian businessman
German auto supplier Schaeffler plans to sell its Russia business to its supervisory board member, the Austrian businessman Siegfried Wolf, a company spokesperson said on Friday. Schaeffler signed a contract on Dec. 29...
Tata Motors lines up suitors for stake in EV business
Tata Motors has begun discussions with sovereign wealth funds and private equity investors such as UAE-based Abu Dhabi Investment Authority (ADIA) and Mubadala Investment Company, Saudi Arabia-headquartered Public...
