Utility and tractor major, Mahindra & Mahindra, has decided to acquire the European two-wheeler subsidiary company of Mahindra Two Wheelers for euro 26.3 million (about Rs 197 crore). The Mumbai-based company has...
Mahindra CIE looking for more acquisitions
Mumbai: The ink hasn’t dried yet on Mahindra CIE Automotive Ltd’s (MCIE) acquisition of Bill Forge Ltd, but its chairman Hemant Luthra, 66, is already on the lookout for more companies for buyouts or partnerships. Anton...
Tesla says lawsuits could delay SolarCity acquisition
Bengaluru: Elon Musk-led Tesla Motor Inc. said on Monday its proposed acquisition of SolarCity Corp. could be delayed due to shareholder lawsuits challenging the deal. Four lawsuits were filed in Delaware between 1...
Motherson Sumi raises Rs 1,993 crore via QIP issue
Auto component firm Motherson Sumi Systems has announced Rs 1,993.44 crore raising via an issuance of 62,884,827 shares to qualified institutional buyers. The company in a regulatory filing said that qualified...
Bill Forge takeover to help Mahindra CIE strengthen position in Asia
The acquisition of auto component maker Bill Forge Private Limited (BFPL) by Mahindra CIE Automotive Limited (MCIE) for Rs 1,331.2 crore is expected to help MCIE diversify its business portfolio and consolidate its...
Kedaara to sell Bill Forge for Rs 1,332 crore to Mahindra CIE
MUMBAI: Mahindra CIE Automotive agreed to acquire automotive forging company Bill Forge in a Rs 1,332 crore cash and stock deal, which the Indo-Spanish component maker expects will help diversify its business and...
Volkswagen Truck and Bus buying stake in Navistar for $256 mn
NEW YORK: Volkswagen Truck & Bus, an arm of the German automaker Volkswagen, is buying a minority stake in Navistar for $256 million. The two companies also said Tuesday that they will enter a procurement joint...
Changzhou Xingyu Automotive Lighting Systems to sell 80 pct stake in automobile sale and service company at 5.3 mln yuan
Changzhou Xingyu Automotive Lighting Systems : * Says it will sell 80 percent stake in a Changzhou-based automobile sale and service company at 5.3 million yuan to individual Jiang Hong * Says it will hold 0 percent...
Tata AutoComp to acquire TitanX
NEW DELHI: Tata Group auto component firm Tata AutoComp Systems today said it will acquire engine cooling supplier TitanX for an undisclosed sum. “TitanX is a leading engine and powertrain cooling solutions...
Tata Motors to divest stake in Tata Technologies
Tata Motors might divest part of its stake in its subsidiary Tata Technologies. Addressing shareholders at Tata Motors’ 71st annual general meeting, Chairman Cyrus Mistry said that while there were no plans for an...
Japan-based JTEKT Corp looking to hike stake in Sona Koyo Steering Systems
Japanese auto-component giant JTEKT Corp, the world’s biggest supplier of steering systems is looking to consolidate its presence in the Indian auto component market and has initiated talks to hike its existing...
Tesla, SolarCity set to announce merger on Monday: sources
Tesla Motors Inc (TSLA.O) and SolarCity Corp (SCTY.O) could announce they have agreed to merge as early as Monday, people familiar with the matter said, setting the stage for a campaign to convince the two...
