Aurangabad-based auto component maker Varroc Engineering has signed an agreement to sell its four-wheeler lightening business to France’s Compagnie Plastic Omnium SE for 600 million euros, according to company’s...
Automotive
Motherson Sumi completes acquisition of 55% stake in CIM Tools
Auto components major Motherson Sumi Systems Ltd (MSSL) on Wednesday said it has successfully completed the acquisition of a majority stake in Bengaluru-based CIM Tools Private Ltd. In October last year, MSSL had...
‘Pain in system is too much’: Motherson Sumi chief sees lot of acquisitions
The current geo-political instability triggered by the Russian invasion of Ukraine is an opportunity for firms like Motherson Sumi to acquire companies that are in distress, said Vivek Chaand Sehgal, chairman, of...
Warburg Pincus acquires majority stake in Imperial Auto
US-based private equity (PE) major Warburg Pincus has acquired a majority stake for an undisclosed sum in automobile parts maker Imperial Auto Industries. VCCircle had first reported the development in January. Stone...
Bharat Forge acquires JS Auto to expand industrial portfolio, reach in South India
Auto components major Bharat Forge on Thursday announced that it will acquire JS Autocast Foundry India for an undisclosed sum to expand its portfolio in the industrial sector and its manufacturing footprint in southern...
Lords Automative ties up with state-owned firm to make EVs in Kerala
Lord’s Mark Industries Pvt Ltd, a Mumbai-based renewable energy products maker, is forming a joint venture with Kerala state-owned Kerala Automobiles Ltd to expand its electric vehicle business and foray into EV...
Balu Forge acquires precision machining unit of Mercedes Benz Truck Factory
Balu Forge Industries Ltd (BFIL) has announced that it has recently acquired the Precision Machining unit of the Mercedes Benz Truck Factory from Mannheim, Germany. The acquisition will be installed in the new machining...
Hyundai, Daewoo tie-up gets EU antitrust veto
Hyundai Heavy Industries proposed takeover of rival Daewoo Shipbuilding & Marine Engineering Co Ltd to create the world’s biggest shipbuilder was hit with an EU veto on Thursday on concerns that the deal would...
ZF takes stake in mobility software startup Apex.AI as it raises $56.5 mln
Germany’s ZF Friedrichshafen, one of the world’s largest suppliers of auto parts, has acquired a 5% stake in Silicon Valley mobility software startup Apex.AI in a fundraising round led by investment firm...
Australia’s GUD Holdings to buy AutoPacific Group for $531 mln
Australian automotive parts maker GUD Holdings said on Tuesday it would buy vehicles accessories maker AutoPacific Group for about A$744.6 million ($531.42 million) from private equity firm Pacific Equity Partners. The...
Iveco sees spin-off from CNH as boost to both companies’ M&A prospects
Truckmaker Iveco Group said on Thursday that its planned spin-off from parent CNH Industrial would help the two groups actively take part in the industry’s ongoing consolidation. In its listing prospectus, Iveco Group...
MM Forgings acquires crankshaft supplier CAFOMA Autoparts for Rs 33 crore
Auto components maker MM Forgings Ltd (MMF) on Saturday said it has acquired CAFOMA Autoparts for a total consideration of Rs 33 crore. The deal to acquire CAFOMA, one of the large independent suppliers of machined...