A PYMNTS Company

Germany: ZF plans partnership exit to prepare for latest takeover

 |  September 3, 2014

Manufacturing conglomerate ZF Friedrichschafen is said to be planning an exit of its joint venture with Robert Bosch as a precursor to its planned takeover of TRW Automotive Holdings, unnamed sources said.

According to reports, ZF is planning to continue negotiations with Bosch later this week after a brief hiatus. The German companies are negotiating terms of the end of their partnership, which would include ZF selling its half of their steering systems business to Bosch.

Sources said ZF is looking to avoid antitrust issues with its planned acquisition of TRW as TRW holds a strong presence in the steering market, the sources said.

ZF and TRW have already agreed on general terms of the merger, one source said, though the companies declined to comment and financial details of either transaction were not available.

Full content: Bloomberg

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.