ZF Friedrichshafen to exit Brakes India joint venture with TVS Group

ZF Friedrichshafen is planning to divest its 49% stake in Brakes India, its joint venture with TVS Group, to comply with antitrust laws for its merger with Wabco Holdings. A formal divestment exercise is expected to launch soon.

“ZF has informed the US regulators and the Competition Commission of India (CCI) that it is willing to divest its steering division and its 49% equity holding in Brakes India.”vccircle.com

• 2 sources
• vccircle.comGrapevine: ZF Friedrichshafen to exit joint venture with TVS GroupAnkit AgarwalJun 10, 2020
• business-standard.comZF Friedrichshafen issues draft offer to acquire 25% shares in Wabco India | Company News - Business StandardGireesh BabuJun 10, 2020

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