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Germany: Auto parts maker considers divestitures to acquire US firm

By  |  August 5, 2014

German auto parts manufacturer ZF Friedrichshafen is reportedly considering divestitures to secure its proposed acquisition of US peer TRW Automotive Holdings, say reports.

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    Unnamed sources said Monday that ZF could sell its steering operations ZF Lenksysteme, a joint venture launched with Robert Bosch. Sources said ZF would sell its stake in the venture to its larger partner.

    The sale would aim to quell competition concerns of the nearly $12 billion acquisition of TRW. ZF is reported to be planning divestitures before officially filing to acquire the US company.

    If finalized, reports say it would create one of the world’s largest car parts manufacturers with annual revenue of more than $40 billion.

    Full content: Reuters

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