Acquisitions17 Oct 2024, 07:35 pm
Bharat Forge to Acquire AAM India Manufacturing for Rs. 5,445.30 Million
AI Summary
Bharat Forge Limited has entered into a definitive agreement to acquire AAM India Manufacturing Corporation Private Limited, a leading manufacturer of axles for light, medium and heavy commercial vehicles in India, at an enterprise value of Rs. 5,445.30 million. The acquisition includes AAMIMCPL’s CV Axle business with its manufacturing assets in Pune and Chennai, India along with the Pune Engineering & Development Centre. The transaction is subject to approval from the Competition Commission of India (CClI) and will close only after receiving the CCl’s approval and upon fulfilment of other customary closing conditions.
Key Highlights
- Bharat Forge to acquire AAM India Manufacturing Corporation Private Limited for Rs. 5,445.30 million.
- AAMIMCPL is a leading manufacturer of axles for light, medium and heavy commercial vehicles in India.
- The acquisition includes AAMIMCPL’s CV Axle business with its manufacturing assets in Pune and Chennai, India along with the Pune Engineering & Development Centre.
- The transaction is subject to approval from the Competition Commission of India (CClI).
- The acquisition will enable Bharat Forge to expand its customer base and manufacturing presence in India.