The first insolvency resolution under the Insolvency and Bankruptcy Code (IBC) is set to be challenged at the appellate tribunal because it has been alleged that the plan involves a related-party transaction. Edelweiss...
CX Partners in talks to acquire majority stake in Comstar for up to Rs450 crore
Private equity firm CX Partners is in advanced talks to acquire a majority stake in Chennai-based auto component maker Comstar Automotive Technologies Pvt. Ltd for about Rs400-450 crore, two people with direct knowledge...
KKR starts bankruptcy proceedings against Amtek Auto’s overseas assets
Global private equity giant KKR has launched bankruptcy proceedings against the international subsidiary of Amtek Auto Ltd, which is itself in India’s bankruptcy court, two people aware of the development said...
Pricol acquires PMP Auto Components
Automotive components manufacturer Pricol on Thursday said it has signed binding agreements to acquire 100 per cent of the wiping systems business of Ashok Piramal Group’s PMP Auto Components. The acquisition...
Indel Automotives bags three acquisition deals for Rs 400 cr in Kerala
Indel Automotives, a fully-owned subsidiary of Mumbai-based Indel Corporation, has acquired MGF Motors Ltd, Kerala Cars Pvt Ltd, and Omega Motors Pvt Ltd. The Rs 500-crore holding company has a long-standing interest in...
Pricol to acquire PMP Auto Components
Auto components maker Pricol is acquiring Ashok Piramal Group company PMP Auto Components for an undisclosed amount, as it looks to expand in Europe and North American markets. The board of Pricol has “approved...
Piramal Finance invests Rs565 crore in auto component firms RSB Group, Indoshell Mould
Piramal Enterprises Ltd on Tuesday said its subsidiary Piramal Finance Ltd has financed two auto component companies through structured credit transactions worth Rs565 crore. The investments were made through the...
ABB Group acquires Austrian machine automation firm B&R
ABB Group on Tuesday announced the acquisition of Austria-based B&R, a solution provider in the automation of machines, for an undisclosed amount. Through the acquisition, ABB expands its leadership in industrial...
Sona group may buy out Japanese partner in joint venture
Auto parts supplier Sona group is set to buy Japanese partner Mitsubishi Minerals Corp’s 25% stake in their joint venture Sona BLW Precision Forgings, a person closely involved in the deal discussions said. Sona BLW...
Piramal Enterprises’s SFG invests Rs300 crore in Indo Shell
Piramal Enterprises Ltd’s structured financing group (SFG), has invested Rs300 crore in Coimbatore-based auto component company Indo Shell Mould Ltd, two people aware of the development said. “The two parties had been...
Honda, Hitachi Automotive to form EV motor joint venture
Honda Motor Co Ltd and Hitachi Ltd’s auto parts subsidiary plan to form a joint venture to develop, produce and sell motors for electric vehicles (EV), joining forces to better compete in the highly specialized...
After selling its entire stake to Japan’s JTEKT Corp, Sona Group to now focus on its forging business
Indian auto component maker Sona Group, which on Wednesday announced its decision to sell its entire stake in Sona Koyo Steering SystemsBSE 0.06 % Limited (SKSSL) to Japan’s JTEKT Corporation, said it will focus...
