Announced
Financials
Sources
Tags
Friendly
Single Bidder
Majority
Cross Border
Private
India
Pending
Acquisition
Brake Manufacturer
Private Equity
Auto Parts
Synopsis
TV Sundram Iyengar and Sons, a holding company, Sundaram Finance, a financial services provider, India Motor Parts and Flometallic, a metal products manufacturer, agreed to acquire the remaining stake in Brakes India, a brakes manufacturer, from ZF Friedrichshafen, a German car parts maker. Financial terms were not disclosed. On value finalisation for the foreign joint venturer’s stake, the joint venture partners were required to seek CCI approval for the structure and adhere to CCI timelines for exit.
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