The Competition Commission of India (CCI) on Tuesday granted its approval for American company Cummin’s acquisition of Meritor. Meritor is a global supplier of axles, brakes, and other modules and components to...
Minda Corp, Pricol surge up to 6% amid stake sale buzz
Shares of Minda Corporation (Rs 226.15) and Pricol (Rs 219) surged up to 6 per cent on the BSE in Friday’s intra-day trade amid reports that Minda Corporation plans to buy around 15.7 per cent stake in Pricol for Rs 400...
Samvardhana Motherson to buy 51% stake in Saddles International for ₹207 cr
Samvardhana Motherson International Ltd (formerly Motherson Sumi Systems Limited) said it will acquire a 51% stake in Saddles International Automotive and Aviation Interiors Pvt Ltd for an enterprise value of ₹207 crore...
Shapoorji Pallonji’s Forbes & Co announces demerger of precision tools business
Forbes and Company, the listed arm of Shapoorji Pallonji Group, on Monday announced the demerger of its precision tools and machine parts business. As per the scheme of arrangements approved by the board of directors of...
Blackstone to sell stake in Sona BLW
Private equity major Blackstone will sell Sona BLW Precision Forgings Ltd’s shares worth ₹3,971.7 crore through a block trade today, according to the terms of the deal. Shares of the auto component manufacturer will be...
Rothschild’s buyout fund tests appetite for $1.5bn software firm A2Mac1
Rothschild’s private equity arm is sounding out prospective bidders to launch the sale of a majority stake in French automotive software firm A2Mac1, a deal valued at up to $1.5 billion, four sources familiar with...
NCLT directs tax department to return TDS to bankrupt Precision Fasteners
The bankruptcy court has directed the income tax department to return the tax deducted at source (TDS) from Precision Fasteners after the auto-component maker was referred for liquidation. The ruling is expected to set...
Bharat Forge, subsidiary complete acquisition of JS Autocast
Pune-based auto parts maker Bharat Forge Ltd on Friday said it along with subsidiary BF Industrial Solutions has successfully completed the acquisition of Coimbatore-based JS Autocast Foundry India Private Limited. The...
Polestar says it expects to complete SPAC merger
Polestar expects shareholders in a special-purpose acquisition company to approve a merger on Wednesday with the Swedish electric-vehicle maker, in a deal that the company said will raise around $850 million and help...
Southeast Asian car marketplace Carro takes 50% stake in Indonesian rental firm
Singapore-headquartered Carro, a Southeast Asian online used-car marketplace, has acquired a 50% stake in the rental unit of Indonesian automotive group PT Mitra Pinasthika Mustika Tbk for nearly $54 million, both...
Varroc sells its four wheeler lighting business to Plastic Omnium for 600 million euros
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...
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...
