Bengaluru-based start-up Bounce, on Thursday, announced that it had raised an additional $105 million (₹746.33 crore) in its Series-D funding round. The funding was co-led by existing investors Eduardo Saverin from B...
ZF wins U.S. approval to buy Wabco on condition of asset divestiture
German auto parts maker ZF Friedrichshafen AG won U.S. antitrust approval for its $7 billion deal to buy U.S. rival Wabco (WBC.N), the Justice Department said on Thursday. To win approval, the government required the...
Fiat Chrysler CEO: Peugeot merger talks progressing well
Fiat Chrysler’s chief executive Michael Manley said on Wednesday that merger talks with Peugeot owner PSA to create the world’s No. 4 carmaker are progressing well and he hopes to have a deal within 12-14 months...
Minda Industries to acquire Germany based Delvis for 21 mn Euros
Auto components maker Minda Industries will be acquiring Germany-based automotive lamps engineering and design company Delvis for approximately 21 million Euros (Rs 164 crore) as part of its strategy to acquire...
Haldex welcomes ZF stake sale, urges Knorr-Bremse to follow
Swedish brake systems firm Haldex welcomed the sale of a 20% stake in the company by German car parts maker ZF Friedrichshafen and urged its second-largest investor Knorr-Bremse to do the same. ZF held the Haldex stake...
Continental, Michelin plan tyres joint venture – filing
German automotive supplier Continental and France’s Michelin plan to set up a tyre-making joint venture, according to a list of mergers under review published by the German antitrust authority. The venture, in which...
Cox Automotive to invest $350 million in electric truck maker Rivian
Electric truck maker Rivian Automotive LLC said on Tuesday that it has received an equity investment of $350 million from Cox Automotive Inc, owner of the Autotrader online automobile market and Kelley Blue Book car...
Blackstone completes Sona BLW stake buy
Blackstone, the US private equity firm, has completed acquiring 33% stake in Sunjay Kapur-led Sona BLW and is set to merge the auto parts company with Comstar Automotive Technology, its other subsidiary in India. The...
Varroc to acquire 74% stake in CarIQ Technologies
Varroc Engineering, a global Tier 1 auto component manufacturer, has agreed to acquire 74% stake in the Pune-based CarIQ Technologies, a leading integrated connected vehicle solution provider to OEMs, fleet owners and...
Automation Anywhere buys Paris-based Klevops
Automation Anywhere, a robotic process automation (RPA) provider, said it bought Klevops, a privately-held company based in Paris. The acquisition will help managers to easily orchestrate workstreams across a team of...
Germany’s Weber Automotive files for insolvency, investor fights family owners
German engine block and cylinder head maker Weber Automotive has filed for insolvency, following a spat between its family owners and French private equity group Ardian about the right restructuring strategy. Finances...
NCLT asks Amtek Auto lenders to examine bids of Deccan Value Investors
The National Company Law Appellate Tribunal (NCLAT) on Wednesday asked the lenders of Amtek Auto to consider the resolution plans submitted by Deccan Value Investors (DVI) along with others based on the original...
