Mahindra & Mahindra files application with German Federal Cartel office to acquire German Auto Components Company-Schoeneweiss & Co GmbH
Mahindra & Mahindra Ltd has informed BSE that the Company is in discussion with the Promoters of Schoeneweiss & Co GmbH, a forging company based in Germany to acquire a majority stake from the Promoters in Schoeneweiss & Co GmbH.
In relation to the proposed acquisition the Company is required to seek approval from the German Federal Cartel under a relevant German law against restraints of competition. The Company has in anticipation of the finalization of the transaction approached the German authorities for their approval which will be an enabling approval.
The proposed acquisition is subject to the finalization of the transaction structure, fulfillment of certain condition precedents and other corporate regulatory approvals as may be required.