China’s BYD, will acquire a 20% stake in its local distributor Rever Automotive in Thailand, its largest market outside of China where it is an electric vehicle market leader, the companies said Saturday. The...
TVS Mobility arm acquires Italy-based automotive components supplier
TVS Mobility group on Monday said its subsidiary SI Air Springs has acquired Italy-based automotive components supplier Roberto Nuti Group, which will help it broaden the product range and strengthen its position in the...
Auto distributor Inchcape to sell UK retail business for $431 mln
British automotive distributor Inchcape said it had agreed to sell its UK retail operations to Group 1 Automotive UK for 346 million pounds ($431.43 million) in cash, following a strategic review it kicked off earlier...
Stellantis buys Brazil’s DPaschoal in another components push in Latam
Stellantis said it is buying a 70% controlling stake in Brazilian automotive services firm DPaschoal, in the automaker’s latest move to expand its presence in Latin America. Stellantis did not provide details of...
Minda Corp exits Pricol with 15% stake sale, rakes in Rs 260 crore profit
After almost a year of investing in Pricol Ltd, Minda Corporation exited the automotive component maker by selling its entire 15.7% stake through the open market. Minda Corp sold 1,91,22,458 shares of Pricol at an...
Germany’s Stabilus to buy Dover’s business unit for $680 million
Industrial and automotive supplier Stabilus SE will acquire a business unit of US manufacturer Dover Corp in a deal with an enterprise value of $680 million, the companies said in separate statements on Wednesday. The...
UK’s Pendragon gets $544 million takeover proposal from AutoNation
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...
