British automotive retailer Pendragon said on Tuesday it received an unsolicited proposal from AutoNation for about 447 million pounds ($544.2 million) in cash. The 32 pence-per-share offer comes days after...
NCLT okays Ramkrishna Forgings’ bid to acquire Amtek Group arm
The bankruptcy court has approved Kolkata-based Ramkrishna Forgings’ bid to acquire Amtek Group’s listed subsidiary JMT Auto through the corporate insolvency resolution process. Ramkrishna Forgings, also a...
Mahindra & Mahindra sells entire stake in Mahindra CIE at Rs 447.6 a share
Mahindra & Mahindra on Wednesday announced selling its entire 3.195 per cent stake in Mahindra CIE. In a filing, the company said that the sale has been executed at a gross price of Rs 447.65 per equity share...
Pricol files objection with CCI to resist Uno Minda’s takeover bid
Pricol, a Coimbatore-based driver information systems maker, has filed an objection with the competition regulator to block Minda Corp’s move to buy up to 24.5% in the company, Pricol told stock exchanges on Wednesday...
Cummins-Meritor deal gets Competition Commission nod
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...
