Tata AutoComp Systems has announced it will acquire International Automotive Components Group Sweden AB (IAC Sweden), in a bid to strengthen its presence in Europe's automotive sector. The company, however, did not disclose any financial details. IAC Sweden has a turnover of approximately $800 million and is a well-established manufacturer of interior systems and components to the automotive industry. The transaction is subject to European regulatory approvals, according to Tata AutoComp. "This ...

UK-based electric vehicle charge-point operator (CPO) Believ has acquired the assets of Switch EV, a cloud-based charge-point management solutions provider, to build new capabilities to meet the future EV infrastructure requirements of local authorities, businesses, landowners and EV drivers, according to a news report published by The Energyst on March 24. According to the news report, Switch EV’s scalable platform is designed to provide real-time charger data to support CPOs in incre...

The board of directors of Indian auto components supplier Sandhar Technologies has approved the acquisition of the high-pressure and low-pressure aluminum die-casting businesses of Sundaram-Clayton Ltd. (SCL) at its Hosur, India, plant. The acquisition was made through Sandhar Ascast Pvt. Ltd., a wholly owned subsidiary of Sandhar Technologies, through a slump sale. In February, the SCL board decided to sell its aluminum die-casting businesses at its Hosur plant. The operations approved ...

Jay Bharat Maruti Ltd. (JBML) has increased its ownership in JBM Ogihara Die-Tech (P) Ltd. (JODT) from 39% to 49% by buying additional equity from its joint venture partner, Ogihara Thailand Co. Ltd. (OTC). This strategic move is aimed at strengthening JBML's production capabilities, particularly in the production of high-tensile and critical body-in-white (BIW) dies. JODT, a JV between JBML, JBM Auto Ltd. and OTC, specializes in the production and selling of press-stamping dies.  ...

Rio Tinto announced March 6 that the company has completed its acquisition of Arcadium Lithium PLC for $6.7 billion, following the sanctioning of the Scheme of Arrangement by the Royal Court of Jersey on March 5. Post this acquisition, Rio Tinto has become the ultimate parent company of Arcadium Lithium, which will become Rio Tinto Lithium, and will also include the Rincon lithium project. The acquisition establishes Rio Tinto as a global leader in the supply of energy transition materials...

Porsche has acquired majority stake in V4Drive from Varta and rebranded it as V4Smart, the carmaker said in a press release on March 4. According to the German sports-car company, the new name reflects the potential applications of V4Smart’s high-performance lithium-ion cylindrical cells well beyond the automotive sector. V4Smart’s cylindrical cells have already been integrated into Porsche's 911 GTS models as booster cells, improving the sports car's driving performance. The cells are pr...

Automotive supplier Sundaram-Clayton Ltd. (SCL) has decided to sell its aluminum die-casting businesses at its Hosur plant in Tamil Nadu, India. This decision was taken by SCL’s board of directors on Feb. 19, with the intention to divest both high-pressure and low-pressure aluminum die-casting operations. The specifics of the deal, including the buyer's identity and the sale consideration, are yet to be determined. The completion of any transaction is contingent upon receiving necessary regula...

Toyo Tire’s net profit increased 3.5 % year over year to ¥74.8 billion (about $475 million) in the financial year ended Dec. 31, 2024, driven by a 2.3% year-over-year growth in net sales to ¥565.4 billion. Higher sales also helped the Japanese tiremaker to record a 22.2% year-over-year increase in operating income to ¥94 billion. Toyo Tire witnessed a 4.3% year-over-year decline in net sales in Japan to ¥116.9 billion. However, the company recorded strong growth in overseas markets, esp...

Atlas Holdings has reached an agreement to acquire SRG Global, a major supplier of decorative trim systems for the automotive market, through an affiliate. The specifics of the financial aspects of the deal were not disclosed, but the transaction is expected to be finalized by early 2025, pending the fulfillment of standard closing conditions and obtaining regulatory approval. SRG Global, with its headquarters in Troy, Michigan, operates manufacturing sites across North America, Western and C...

Northvolt, a developer and manufacturer of battery systems, has entered into a Sale and Purchase Agreement for the acquisition of its Northvolt Systems Industrial division by an unspecified leading industrial group. The division, created by Northvolt in 2018, specializes in supplying battery modules and systems to various industries such as material handling, construction equipment, mining, agriculture and municipal services. It currently operates with about 300 employees across a prototyping...

Platform Science has announced the completion of its acquisition of Trimble’s global transportation telematics business units. The deal was first announced in September 2024 during the Trimble Insight Tech Conference in Las Vegas. As part of the transaction, Trimble becomes a shareholder in Platform Science’s expanded business and receives a seat on Platform Science’s board of directors. Trimble joins C.R. England, Cummins, Daimler Truck, PACCAR, Prologis, RyderVentures and Schneider as a ...

Arcadium Lithium PLC, a prominent lithium chemicals producer operating globally, has announced receiving all necessary regulatory approvals for its acquisition by mining giant Rio Tinto. This development follows the initial announcement of the transaction in October 2024. The approvals span across major jurisdictions including Australia, Canada, China, Japan, South Korea, the UK and the US, covering both merger control clearances and investment screening in certain countries. A court hearing ...

EasyPark Group has successfully completed its acquisition of Parkopedia, a significant move that positions the combined entity as a powerhouse in digital parking and mobility solutions with global reach. This merger is lauded for creating an integrated driving experience powered by precise data and extensive payment capabilities. Cameron Clayton, CEO of EasyPark Group, emphasizes the enhanced seamlessness of the driver journey this acquisition brings, highlighting the integration of Parkopedia's...

SK On, the battery manufacturing arm of South Korea's SK Group, has announced the completion of a groundbreaking three-way merger, positioning itself as a global battery and trading company aimed at fostering sustainable growth through enhanced synergies. This strategic merger involves SK On, previously the world's fifth-largest electric vehicle battery-maker, joining forces with SK Enterm, following an earlier merger with SK Trading International in November 2024. The consolidation under the...

As reported in a press release on Feb. 4, General Motors (GM) has successfully completed its acquisition of GM Cruise Holdings LLC, making Cruise a wholly-owned subsidiary of GM, following the approval of GM's merger proposal by the Cruise board of directors. This acquisition positions Cruise to work closely with GM on the development of autonomous vehicle technology and advanced driver assistance systems for personal vehicles. GM plans to incorporate Cruise's technology into its Super Cruise...

The European Commission has approved the acquisition of REHAU Automotive by the US-based private equity firm Atlas Holdings. In October 2024, Switzerland-based REHAU Group entered a definitive agreement to sell REHAU Automotive to Atlas. The transaction is expected to be completed by the end of the first quarter of 2025. REHAU Automotive supplies vehicle exterior products including bumper and polymer functional systems. The company operates at 25 locations in nine countries, employing 7,000 p...

Lear Corp. has announced the acquisition of StoneShield Engineering, a privately-owned system integrator, based in Castelo Branco, Portugal. Established in 2017, StoneShield Engineering has carved a niche for itself in the automation technology landscape, particularly within the wire harness industry. Its core capabilities include robotics, automated taping applications and high-voltage harness assembly. This acquisition aligns with Lear's Innovative, Digital, Engineered and Automated (IDEA) ...

Italy-based sealing solutions suppliers Argomm Group and Gapi Group have agreed to merge their businesses. The merger, scheduled to be completed in June 2025, is expected to help the Italy-based companies expand their range of products and services, optimize operational synergies, improve efficiency, and strengthen their global presence. The proposed merger will create a key player in the sealing systems business in Europe with a consolidated turnover of €220 million and 1,745 employees. Th...

On Jan. 29, American Axle & Manufacturing (AAM) signed a definitive agreement to acquire Dowlais Group in a cash and stock deal, valuing the UK-based company at about $1.44 billion. Dowlais Group is the owner of GKN Automotive, a leader in automotive drive systems, and GKN Powder Metallurgy, a leading supplier of sintered metal products and manufacturer of atomized metal powder.  The acquisition will create a leader in global driveline and metal-forming supply with a comprehensive an...

Volvo Cars and Northvolt AB have signed a share purchase agreement relating to Northvolt’s shares in NOVO Energy AB, leading to Volvo Cars taking full ownership of NOVO Energy AB, the carmaker announced Jan. 29. Volvo Cars’ acquisition of NOVO Energy is subject to clearance from the United States Bankruptcy Court for the Southern District of Texas and the Inspectorate of Strategic Products in Sweden, with both parties responsible for fulfilling agreed prerequisites. The transaction wil...

Koito Manufacturing has completed the acquisition of US-based Lidar specialist Cepton. The acquisition, finalized on Jan. 7, transforms Cepton into a private, indirect subsidiary of Koito, with its headquarters remaining in San Jose, California. Following the acquisition, Cepton's shares were delisted from the Nasdaq, with each share of Cepton common stock being converted to $3.17 in cash, marking a significant milestone in the journey of both companies toward reshaping the landscape of automoti...

In December 2024, JTEKT Corp. signed a basic agreement to transfer its European Needle Roller Bearings (NRB) business to Aequita, a financial investor based in Germany. The planned transfer includes the sale of all shares of JTEKT’s three consolidated subsidiaries involved in the manufacture and sale of NRBs in Europe, one each in France, Germany and Czech Republic.  This strategic move is part of JTEKT's second medium-term management plan that covers the fiscal year 2024 to 2026 ...

In a press release on Jan. 15, Onsemi announced that it had completed its purchase of the Silicon Carbide Junction Field-Effect Transistor (SiC JFET) technology business, which includes the acquisition of the United Silicon Carbide subsidiary, from Qorvo. The deal was finalized for $115 million in cash. This strategic acquisition is set to enhance Onsemi's EliteSiC power portfolio, positioning the company to better meet the growing demand for high-energy efficiency and power density in various a...

Hydro has agreed to acquire the remaining shares in battery recycling company Hydrovolt from Northvolt for 78 million kroner (about $6.8 million), which will increase Hydro's ownership from 72% to 100%. The completion of the transaction is anticipated by the end of the first quarter of 2025, subject to approval by the relevant courts in line with Northvolt's Chapter 11 process. Hydrovolt, established in 2020 as a joint venture between Hydro and Northvolt, specializes in recycling el...

MAHLE, a tier 1 automotive supplier, has agreed to sell its MAHLE Powertrain (MPT) US engineering services business, known as MAHLE Powertrain LLC, to the Dumarey Group. This agreement, signed at the end of 2024, encompasses the MPT facilities located in Plymouth, Michigan, which employs about 70 people engaged in testing and engineering services for US customers. The transaction is anticipated to close in the first quarter of 2025. MAHLE Powertrain's branches outside of the US are ...

Goodyear Tire & Rubber has signed a definitive agreement to sell its Dunlop brand and associated trademarks, together with certain intellectual assets, to Sumitomo Rubber Industries (SRI). This strategic move is part of Goodyear's "Goodyear Forward" transformation plan, aimed at optimizing its brand portfolio and enhancing shareholder value. The transaction, valued at approximately $701 million, encompasses the Dunlop brand in Europe, North America and Oceania across various tire c...

As reported in a press release on Jan. 6, Ansys and Synopsys made a joint announcement about Ansys' agreement to sell its PowerArtist business to Keysight Technologies. This strategic move comes as a part of efforts to secure regulatory approval for Synopsys' proposed acquisition of Ansys, a transaction that is pending regulatory reviews and is anticipated to conclude in the first half of 2025. PowerArtist, recognized for its role in facilitating low-power innovation within semicond...

In a press release on Jan. 7, NXP Semiconductors has announced its acquisition of TTTech Auto, a Vienna-based firm known for its safety-critical systems and middleware for software-defined vehicles (SDVs), in a $625 million all-cash transaction. This move is part of NXP's strategic efforts to strengthen its position in the automotive and industrial internet of things sectors by enhancing the NXP CoreRide platform. TTTech Auto has been significant in the automotive industry, providing solutions t...

US President Joe Biden has blocked the $14.9 billion acquisition of U.S. Steel by Nippon Steel, Japan's fourth-largest steelmaker, citing national security reasons. The decision comes after a yearlong review process and considerable political opposition in the US, including from Biden and President-elect Donald Trump during the presidential election campaign. U.S. Steel, once a dominant force in the American steel industry and now the third-largest steelmaker in the US, and Nippon Steel criti...

Sriram Pistons & Rings Ltd. (SPRL), an automotive supplier based in India, has announced plans to acquire 100% shareholdings in TGPEL Precision Engineering Ltd. through its wholly owned subsidiary SPR Engineering Ltd. at an enterprise value of 2.2 billion Indian rupees (about $25.9 million), The Economic Times reported Dec. 10. The acquisition is expected to strengthen SPRL's position in the manufacturing of high-precision injection-molded components. The deal is expected to be completed by ...

Gentex has reached a definitive agreement to acquire Voxx International in an all-cash transaction. Under the terms of the agreement, Gentex will buy all issued and outstanding shares of Voxx common stock, not already owned by it, for a purchase price of $7.50 per share. The acquisition is expected to conclude in the first quarter of 2025, subject to approval by Voxx shareholders, regulatory approvals and other standard closing conditions. This acquisition is seen as a strategic enhancement f...

Norge Mining, an Anglo-Norwegian company known for its significant resources of critical raw materials in southwest Norway, has announced its acquisition of Skaland Graphite AS, Europe's largest natural graphite producer, from Mineral Commodities Ltd. (MRC), an Australian mining company. The acquisition, which includes transferring 100% of Skaland to Norge Mining on a cash and debt-free basis, is slated for completion in the first quarter of 2025, pending customary closing conditions and re...

Samvardhana Motherson Automotive Systems Group BV (SMRPBV), a wholly owned subsidiary of Indian auto components group Samvardhana Motherson International Ltd. (SAMIL), has agreed to acquire Brazil-based automotive supplier Baldi Industria E Comercio Ltda for $7.8 million, Autocar Professional reported Dec. 16. The transaction is expected to be completed in the first quarter of the next financial year (fiscal year 2025/26), subjected to satisfactory completion of all closing conditions. B...

Strattec Security, a company specializing in smart vehicle power access, security and authorization solutions, has announced its plans to list its Milwaukee facility in the US for sale as part of its efforts to evaluate opportunities for upgraded and modernized operations. This evaluation aims to identify optimal spaces for both manufacturing and corporate offices, with a preference for the Milwaukee area, if economically feasible. Alongside this, Strattec intends to shift its Milwaukee manuf...

Ineos Styrolution has entered into a definitive agreement to sell its acrylonitrile butadiene styrene (ABS) and styrene acrylonitrile (SAN) production site in Map Ta Phut, Thailand, to Styrenix Performance Materials Ltd. The transaction is expected to close in early 2025. Ineos and Styrenix have preferred to not disclose the financial details of the acquisition. ABS is a common thermoplastic widely used in the production of automotive interior and exterior parts including instrument pane...

On Dec. 4, 2024, Proma Group, an Italy-based automotive supplier, signed an investment agreement with Recaro Automotive GmbH to acquire its struggling business in Germany. The investment will allow Recaro Automotive to continue and relaunch its operations across Europe from January 2025. In July 2024, Recaro Automotive GmbH filed for insolvency in the Esslingen District Court, Germany. The court had ordered provisional self-administration and appointed Stuttgart lawyer Holger Blümle as the p...

Lion Electric Co., known for its production of all-electric medium and heavy-duty urban vehicles, has entered into a definitive agreement to sell its innovation center located in Mirabel, Québec. The sale, announced Dec. 5, involves Aéroport de Montreal purchasing the facility for C$50 million, with adjustments to the purchase price and under certain closing conditions being a standard part of the process. The financial strategy behind this move is for Lion Electric to direct all net procee...

Samvardhana Motherson International Ltd. (SAMIL), part of the Motherson Group, one of the leading automotive component manufacturers globally, has announced its plan to acquire Japan-based Atsumitec Co. for $57 million, aiming to expand its business with Japanese original equipment manufacturers. Atsumitec specializes in metal and machining, producing gear-shifters, chassis and transmission components for both four-wheelers and two-wheelers, and serves major Japanese OEMs including Honda Moto...

ABC Technologies announced that it has reached an agreement to acquire TI Fluid Systems for $1.32 billion. Under the terms of the transaction, shareholders of TI Fluid Systems will be entitled to receive 200 pence a share, valuing TI Fluid Systems at an enterprise value of approximately £1.8 billion. The acquisition is expected to be complete in the first half of 2025, subject to shareholder and other relevant legal and regulatory approvals. TI Fluid Systems is a London-listed, market-lea...

The board of directors of Indian supplier Pricol Ltd. has approved the acquisition of the injection-molded plastic component division of another local supplier, Sundaram Auto Components Ltd., for 2.15 billion rupees (about $25.4 million), CNBC TV18 reported. The acquisition, done through Pricol’s wholly owned subsidiary, Pricol Precision Products Pvt. Ltd., is expected to be completed by Jan. 31, 2025, subject to the fulfillment of conditions in the business transfer agreement. The acq...

Panasonic Automotive Systems (PAS) has announced a significant shift in management and ownership structure through a strategic partnership with the Apollo Group, which includes Apollo Global Management Inc. This change comes after Apollo acquired 80% of PAS' shares from Panasonic Holdings Corp. (PHD), with the transaction governed by agreements signed on March 29, 2024. Despite this shift, PAS will remain strategically aligned with PHD, becoming an equity method affiliate and continuing to share...

Accenture has entered into an agreement to acquire AOX, a German company specializing in embedded software for automakers and their suppliers. The acquisition will help Accenture enhance its ability to support automotive clients in transitioning to software-defined vehicles. The two partners have not disclosed the financial details of the acquisition. AOX designs and develops system architectures and high-performance software that are crucial for modern vehicles. This acquisition is aligned w...

Continental has announced its decision to sell Zonar Systems, a key provider of smart fleet management solutions, to GPS Trackit, a company specializing in cloud-based, internet of things fleet solutions and GPS tracking. The financial details of the deal remain undisclosed. The strategic move aligns with Continental's Automotive group sector strategy revealed in 2023, focusing on its core strengths and streamlining operations. “The decision to sell Zonar is part of our broader automotive s...

Aramco, one of the world’s leading integrated energy and chemicals companies, through a directly and wholly owned subsidiary, Aramco Asia Singapore Pte. Ltd., has completed the purchase of a 10% equity stake in Horse Powertrain, Geely announced Dec. 2.  London-headquartered Horse Powertrain is a joint venture company, owned by Renault and Geely, aimed at manufacturing internal combustion engine (ICE) and hybrid powertrains to global automakers. With the completion of this transaction, ...

Hinduja Tech Ltd., a subsidiary of Ashok Leyland, specializing in global engineering and research and development technology focused on mobility, has announced its acquisition of the Tecosim Group, a leading European engineering services provider. This strategic move is aimed at expanding Hinduja Tech's presence in the European market and is a significant step toward achieving its goal of being among the top-10 global mobility engineering and R&D companies. The acquisition underscores Hin...

Lumax Auto Technologies Ltd. (LATL) has completed the acquisition of a 60% stake in Greenfuel Energy Solutions’ alternate fuels business for 1.53 billion rupees (approximately over $18 million), according to a news report published by Autocar Professional on Nov. 26. With this acquisition, LATL has forayed into the green and alternate fuels segment, including compressed natural gas, hydrogen and other applications, the report said, adding that the Indian tier 1 automotive supplier completed...

Toshiba Corp. has announced its plan to sell its wholly owned subsidiary Toshiba Materials to Niterra, a Japan-based supplier of ceramic products. The two companies signed a share transfer agreement with the aim to complete the transfer by May 30, 2025. Toshiba Materials, rooted in Toshiba's Specialty Materials division, is engaged in the development, manufacture and sales of various advanced materials and products including fine ceramics, high-purity metals and special alloys, amon...

Hankook & Co. Group signed share purchase agreements with Hahn & Co. for the acquisition of majority stake in automotive thermal management systems supplier Hanon Systems on Oct. 31. The acquisition was made through Hankook & Co. Group's core business, Hankook Tire & Technology. The acquisition is expected to complete by the end of 2024. Following the acquisition, Hankook & Co. Group will own a 54.77% stake in Hanon Systems. Earlier in May, Hankook Tire’s board of direct...

Aisin Corp. signed a memorandum of understanding (MOU) on Oct. 31 to merge its consolidated subsidiary Aisin Chemical into its operations. Aisin Chemical specializes in the development, manufacturing and sale of chemical products, friction materials and plastic parts for vehicles. Aisin Chemical will repurchase all of its shares held by companies other than Aisin as treasury stock, and then merge with Aisin. The planned merger is scheduled to become effective from April 1, 2025. Thi...

Piedmont Lithium Inc., a significant North American supplier of lithium products for the US electric vehicle supply chain, has entered into a definitive agreement with Sayona Mining Ltd. to merge the two companies, creating a leading lithium business with Sayona becoming the parent entity, termed MergeCo. The equity holdings post-transaction will be evenly split between Piedmont and Sayona shareholders on a fully diluted basis. To support this merger, Piedmont plans to raise approximately $27...

Autoneum has signed an agreement to acquire a 70% stake in Jiangsu Huanyu Group, a major supplier of automotive acoustic and thermal management solutions in mainland China. The acquisition is expected to significantly expand Autoneum’s presence in Asia and broaden its customer base to include several mainland Chinese automakers such as BYD, BAIC and GAC. The acquisition will be carried out in two phases. In the first phase, the acquisition of a 70% equity stake in the company for CHF 75 mil...

Lyten, a leading company in supermaterial applications and lithium-sulfur batteries, announced its acquisition of Cuberg's lithium-metal battery manufacturing facility in San Leandro, California, including its cell-making equipment. This strategic move is aimed at converting the newly acquired facility to produce lithium-sulfur batteries and expand its capacity to support up to 200 MWh of production in the Bay Area. As part of the deal, Lyten will take over Cuberg's 119,000-square-foot facili...

Hero Electronix’s Tessolve has announced the acquisition of Dream Chip Technologies, a Germany-headquartered semiconductor chip design firm, for up to 4 billion rupees (about $47.47 million), according to a report published by The New Indian Express on Nov. 6. The acquisition marks a significant step for Tessolve, a company founded in Bengaluru, India, as it aims to enhance its leadership in the sector by integrating advanced capabilities in system-on-chip (SoC) designs, particularly for th...

Eramet has successfully reacquired full ownership of its Argentinian subsidiary, Eramine Sudamerica, resulting in the complete ownership of the Centenario lithium project in Argentina, from Tsingshan Group, which previously held a 49.9% interest. This purchase, costing Eramet a net cash impact of $699 million, will see the group utilizing its available liquidity and will increase the group's net debt by the same amount. This move is aimed at giving Eramet unrestricted control and benefit from...

UK-based Kraken, an AI-powered, end-to-end platform for utility digitalization, has acquired Jedlix, a leading Rotterdam, the Netherlands-based charging solutions company, Kraken announced Oct. 21. The acquisition of Jedlix, which specializes in smart and bidirectional charging solutions, brings an international catalog of API integration agreements with electric vehicle and charger manufacturers, and energy companies including Renault, Polestar, Kia, Hyundai, Engie, Eneco, Vattenfa...

As reported in a press release on Oct. 14, HL Robotics, a subsidiary of HL Holdings, has signed an agreement to acquire Stanley Robotics, known for being the first company globally to commercialize outdoor valet parking robots. The acquisition, anticipated to be finalized by the end of 2024 with the necessary regulatory approvals, positions HL Robotics to dominate a market estimated to be worth $6.7 billion. The strategic acquisition underscores HL Robotics' ambition to lead in the global par...

Rio Tinto, the world’s second-largest mining company, has signed a definitive agreement with Arcadium Lithium to acquire the lithium producer for $6.7 billion, according to a news report published by CNBC on Oct. 9. Rio Tinto has agreed to buy Arcadium Lithium in an all-cash transaction for $5.85 per share, which represents a premium of 90% to Arcadium’s Oct. 4 closing price of $3.08 per share, the news reported. Notably, the news of the transaction follows an announcement earlier this...

ArcelorMittal has announced a definitive agreement with Nippon Steel Corp. (NSC) to purchase NSC's 50% equity interest in the AM/NSC Calvert joint venture. This step comes as a result of NSC's request, aiming to alleviate regulatory concerns arising from its planned acquisition of US Steel. The completion of this transaction is contingent on NSC successfully acquiring US Steel, a process that is still subject to several regulatory approvals. Under the terms of the agreement, ArcelorMittal wil...

Pure Lithium Corp., a Boston-based lithium metal battery technology company, announced its acquisition of Dimien Inc., a US company specializing in vanadium cathode materials. This acquisition encompasses Dimien's intellectual property, manufacturing equipment and its experienced team, facilitating the advancement of Pure Lithium's lithium metal vanadium (LVO) battery project. Dimien has been recognized for its development of zeta vanadium oxide (ZVO), a low-cost cathode material with high-en...

Covestro AG has entered into an investment agreement with entities of the Adnoc Group, including Adnoc International Ltd. and its subsidiary, Adnoc International Germany Holding AG. Under the agreement, Adnoc International Germany Holding AG is set to make a public takeover offer for all outstanding shares of Covestro at €62 per share. The transaction, valuing Covestro at approximately €11.7 billion, includes a 10% share capital increase by Covestro, resulting in €1.17 billion proceeds ...

Schaeffler has successfully completed its previously announced merger with Vitesco Technologies, the Germany-based supplier said in a press release on Oct. 1. As part of the merger agreement between the two companies, first announced in March, Vitesco’s existing shareholders received 11.4 newly issued common shares of Schaeffler with full voting rights for each Vitesco share. In addition, Schaeffler’s previously listed non-voting common shares were converted into common shares of new Schaeff...

CG Power and Industrial Solutions, a Murugappa group company, announced its decision to acquire the Radio Frequency (RF) Components business from Renesas Electronics Corp. for $36 million, marking CG Power's entry into the semiconductor design sector, as reported by Hindustan Times on Oct. 5. Renesas, a Japan-based provider of advanced semiconductor solutions, reported that its RF Components business generated annual revenue of approximately $56 million in 2023. The acquisition includes ...

New Zealand’s energy company Genesis Energy plans to acquire a majority shareholding in ChargeNet, the country’s largest nationwide electric vehicle public charging network, to gain a foothold in New Zealand’s emerging EV charging market, Genesis Energy announced Oct. 1. Under the terms of the newly signed agreement, Genesis plans to acquire a 65% stake in ChargeNet for an amount of NZ$64 million (about US$39.3 million), which includes a significant investment into the business to fund ...

Rio Tinto, a British-Australian multinational metals and mining giant, is in talks to buy lithium producer Arcadium, as it is looking to use the opportunity following a slump in lithium prices, according to a news report published by Reuters on Oct. 7. The deal could accelerate Rio Tinto’s rise to become one of the largest lithium producers worldwide, only behind Albemarle and SQM. Reuters had earlier reported that the companies had been holding talks and that Arcadium could be valued fr...

Continental and Vitesco Technologies have finalized an agreement that addresses the financial responsibilities stemming from ongoing investigations regarding their supply of engine control units and engine control software. This agreement, which is part of their corporate separation arrangement, mandates Vitesco to compensate Continental with €125 million. This sum accounts for the fines levied by the public prosecutor's offices in Hanover, Germany, and Frankfurt am Main, Germany, as well a...

As reported in a press release on Sept. 19, Synopsys has announced a definitive agreement to sell its Optical Solutions Group (OSG) to Keysight Technologies Inc., marking a significant shift for both companies. The terms of the sale have not been disclosed, but the completion of this transaction is dependent on several customary closing conditions. These include regulatory review and the successful closure of Synopsys' proposed acquisition of Ansys, which is still awaiting regulatory approval an...

As reported in a press release on Sept. 18, Oxa has announced the acquisition of StreetDrone, a UK-based brand focusing on the development and deployment of autonomous technology for industrial logistics. The acquisition will help Oxa with the movement and management of goods on private land, including ports, logistics hubs, retail fulfillment centers and airports. StreetDrone provides autonomous industrial solutions for operators, retailers and original equipment manufacturers. It has exp...

Alcoa, a leading global industry entity in bauxite, alumina and aluminum products, has reached an agreement to sell its 25.1% stake in the Ma'aden Joint Venture to the Saudi Arabian Mining Co. (Ma'aden) for a total of approximately $1.1 billion. This transaction comprises around 86 million shares of Ma'aden, valued at $950 million, and $150 million in cash. The completion of this transaction is contingent upon regulatory approvals, the endorsement of Ma'aden's shareholders and other stan...

In a press release dated Sept. 9, Hydro announced that it has acquired an additional 20% stake in Vianode, a synthetic graphite manufacturer for the batteries industry, as Altor, a private equity fund, exercised its put option. This move required Hydro to acquire additional shares, leading to an equal ownership stake of 50/50 between Altor and Hydro. Prior to this, the ownership was divided, with Altor holding 70% and Hydro 30%, especially after Elkem exited from Vianode in March. Via...

India-based automotive group Uno Minda’s board of directors has approved its plans to acquire a 49% equity stake in Minda Nabtesco Automotive Pvt. Ltd., according to a report published by brokerage firm AngleOne on Sept. 3. Minda Nabtesco Automotive is a joint venture between Japan-based Nabtesco Automotive Corp. and the promoter group entities Minda Finance Ltd. and Minda Investments Ltd. The JV produces air-brake systems and clutch actuation systems for both passenger and commercial vehicles...

General Motors (GM) is moving its BrightDrop electric commercial vans business into the Chevrolet brand, the company said in a press release on Aug. 29. The strategic move will not only expand Chevrolet’s lineup for commercial vans but will significantly improve availability of BrightDrop electric commercial vans through its extensive sales and distribution network. Chevrolet’s own commercial vans portfolio includes the Express Cargo Van and Express Passenger Van. “With the addition of ...

In a press release dated Aug. 28, Exedy announced that it has acquired a portion of the shares of Kawamata Seiki Co. Ltd., a company based in Kawamata Town, Date District, Fukushima Prefecture, led by Masayuki Tachino. This move is seen as a significant step toward enhancing the development of products for electric mobility, building on the firm's existing portfolio, which includes manual clutches, among other products. Kawamata Seiki, known for its comprehensive handling of various aspects o...

Avatr Technology, a smart electric vehicle brand of Changan Automobile, has agreed to acquire a 10% equity stake in Huawei Technologies' intelligent driving division, Yinwang Intelligent Technology, for 11.5 billion yuan (about $1.6 billion), Yicai Global reported Aug. 20. This move underscores Huawei's strategy to bolster electric and smart vehicle technologies via collaborations with leading car manufacturers. The acquisition, which was approved by Changan's board, reflects Huawei's efforts...

Pilbara Minerals Ltd. and Latin Resources Ltd. have announced a binding Scheme Implementation Agreement where Pilbara Minerals will acquire all shares of Latin Resources through a court-approved scheme of arrangement. The transaction is viewed as mutually beneficial, with Pilbara Minerals acquiring the Salinas Lithium Project in Brazil, which is expected to significantly enhance its mining capabilities and offer Latin Resources' shareholders immediate premium and exposure to lithium product...

In a press release dated Aug. 6, Exedy announced that it has acquired shares in Pre-EV Mobility Co. Ltd., a company based in Yamagata City, Yamagata Prefecture, Japan, which specializes in the development of electric drive systems for commercial vehicles. This acquisition has effectively made Pre-EV Mobility a subsidiary of Exedy. Established in 2022 with the aim of solving electric trucks' challenges and contributing to carbon-neutrality realization, Pre-EV Mobility is engaged in busine...

Eleport, a leading public electric vehicle charging network in Central and Eastern Europe (CEE), has acquired TurboVolt GmbH in an attempt to expand its footprint in Croatia and Slovenia, the charge-point operator (CPO) announced Aug. 5. Post acquisition, Eleport’s EV charging network will now be spread across six countries. The company claims to be the largest EV charging operator in the Baltic region and fourth-largest CPO in Poland. According to Eleport, the first phase of its ex...

Volvo Cars has announced its decision to acquire full ownership of HaleyTek, a joint venture company with Ecarx that specializes in developing Android-powered infotainment systems, the carmaker said in a press release on Aug. 1. The Swedish carmaker will buy the 40% equity stake in HaleyTek that Ecarx currently owns to make it a wholly owned subsidiary. This move marks a significant step for Volvo Cars in enhancing its technological capabilities and gaining complete control over key tech...

Cepton, a US-based Lidar specialist, has entered into a definitive agreement for its acquisition by Koito Manufacturing, the company said in a press release on July 29. This all-cash transaction values Cepton's outstanding capital stock at $3.17 per share, representing a significant premium over its closing price before the announcement. Following the completion of this transaction, Cepton will become a privately held, indirect subsidiary of Koito in the US, maintaining its headquarters in San J...

UL Solutions has announced the acquisition of TesTneT Engineering, a Germany-based company specializing in hydrogen component and system testing. The acquisition is a strategic move by UL Solutions to expand its expertise in alternative fuels, thereby enhancing its ability to contribute to global decarbonization efforts. The deal was completed on July 8. However, the two parties have not disclosed the financial details of the acquisition. Founded in 2009, TesTneT provides comprehensive t...

As reported in a press release on July 8, Seeing Machines has recently acquired the Berlin-based company Asaphus, a move announced alongside a strategic collaboration with Valeo, a prominent figure in the automotive industry. The partnership aims to fortify their stance in the driver and occupant monitoring systems market. As part of the agreement, Valeo will transfer its driver monitoring perception software activity, stemming from its acquisition of Asaphus, to Seeing Machines. This is intende...

Renesas Electronics Corp., known for its advanced semiconductor solutions, and Altium, recognized for its electronics design systems, have jointly announced receiving final approval from the Committee on Foreign Investment in the United States for their proposed merger, as reported in a press release July 1. This authorization, received July 1, marks the clearance of the last regulatory hurdle required to proceed with the merger, following approvals from authorities in Australia, Germany, Tur...