ZF, Wabco to have combined sales of Euros 40 billion (3,11,194 crore)
ZF Friedrichshafen AG, a leading global technology group and supplier of mobility systems for passenger cars, commercial vehicles and industrial technology, has announced that it has entered into a definitive agreement to acquire Wabco for $136.50 per share for a total equity value of approximately $7 billion (Rs 48,514 crore approx.) The closing is expected for early 2020.
The planned acquisition has been approved by ZF’s Management Board and Supervisory Board and Wabco’s Board of Directors. Together, ZF and WABCO will form a leading global integrated mobility systems provider for commercial vehicles, creating added value for ZF’s commercial vehicle customers. The combined company will have sales of approximately Euros 40 billion (Rs 3,11,194 crore).
Wabco is a leading global supplier of braking control systems, technologies and services that improve safety, efficiency and connectivity of commercial vehicles including trucks, buses and trailers. Its diverse products and services include integrated braking systems and stability control, air suspension systems, transmission automation controls, as well as aerodynamics, telematics, and fleet management solutions. Wabco, which is listed on the New York Stock Exchange (NYSE), generated Euros 3.3 billion in revenues in 2018 and has some 16,000 employees in 40 countries.
This story is from the April 2019 edition of Motown India.
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This story is from the April 2019 edition of Motown India.
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