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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.
TVS (Transformateurs Solutions Vénisseux SA) acquired the activities of SIMELECTRO, a French SME and former subsidiary of Schneider Electric, specializing in power electrical connections for power plants and electro-intensive industries. The acquisition was completed on March 27, 2019.