Indian car wiring maker Motherson Sumi Systems Ltd is in early talks with German peer Leoni AG over a possible merger of the pair, two people close to the matter said. The car industry and its suppliers, facing a...
Blackstone to acquire $300 million stake in Sona BLW, to merge it with Comstar
American private equity firm Blackstone will merge its recently acquired auto component firm Comstar Automotive with Sona BLW, when the deal with the latter is consummated, multiple sources aware of the matter told...
Fiat Chrysler agrees to sell Magneti Marelli to Calsonic Kansei – sources
Fiat Chrysler (FCA) has agreed to sell its Magneti Marelli unit to KKR’s Calsonic Kansei, two sources familiar with the matter said on Sunday, adding the deal would be announced on Monday. The sale is the first big...
Humvee maker AM General is up for sale, sources say
AM General has put itself up for sale and has hired investment bank Macquarie Group Ltd to seek potential bidders in a deal that could value the builder of Humvee military vehicles at more than $2 billion, people...
Auto components maker Minda Corp to merge 5 subsidiaries
Auto components maker Minda Corporation Monday said that its board has approved a scheme to amalgamate five of its wholly-owned domestic subsidiaries into the parent company. The merger, subject to necessary statutory...
Volkswagen Group owned MAN Trucks exits Indian market
Volkswagen Group-owned MAN Truck & Bus has pulled the plug on the growing Indian market as part of its global plans of focusing on the premium segment of the global market. The company has put its Pithampur plant up...
TVS Logistics in talks to acquire Gati for Rs 1,500 crore.
TVS Logistics, India’s largest logistic services provider, is in talks with smaller rival Gati to buy a controlling stake for about Rs 1,500 crore, signalling bigger investments, in an industry benefiting from a surge...
Minda Corp, Neuland Labs, Simplex Infra raise Rs838 crore through QIPs
Auto component maker Minda Corp. Ltd, pharmaceutical company Neuland Laboratories Ltd and engineering firm Simplex Infrastructure Ltd have collectively raised Rs837.79 crore through qualified institutional placement...
Warburg set to exit Avtec, sell 30% stake to CK Birla Group
US-based private equity (PE) firm Warburg Pincus is set to exit its investment Avtec Ltd, with Avtec’s promoter—the CK Birla group—offering to buyout the PE investor’s stake. Avtec is part of the CK Birla group, a...
Vogo Automotive may raise funds from Ola, venture capital firms
Scooter rental start-up Vogo Automotive Pvt. Ltd is in advanced talks to raise Rs40-45 crore from cab hailing platform Ola and venture capital firms Stellaris Ventures Partners and Matrix Partners, three people aware of...
Indian auto component makers are hungry for overseas acquisitions
On Monday, auto parts maker Motherson Sumi Systems Ltd (MSSL) announced the acquisition of the Netherlands-based Reydel Automotive Holdings BV for $201 million (around Rs1,300 crore). Indeed, acquisitions are not new to...
Motherson acquires French component maker Reydel for $201 million
Country’s largest auto component player, Motherson Sumi will invest $201 million to acquire Reydel Automotive Group (Reydel), a manufacturer of interior components and modules for global automakers. This will be the...
