ZF WABCO Shareholding Acquisition

CCI approves the acquisition of 100 per cent shareholding of WABCO Holdings Inc. by ZF Friedrichshafen AG, under Section 31(1) of the Competition Act, 2002.

- Deepti Thore

The Proposed Transaction subject to the carrying out of modifications proposed by ZF Friedrichshafen AG(ZF), under Regulation 25 (1A) of the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Regulations, 2011 was recently approved. After making public the definitive merger plans last year in March, ZF acquired 100 per cent shares of WABCO Holdings Inc (WABCO) as per a combination notice filed with the Competition Commission of India (CCI) in February 2020. Aiming to help ZF sustain its expertise in autonomous-driving technologies, the merger is part of ZF’s NextGeneration Mobility strategy. Set to acquire all outstanding shares of WABCO for USD 136.50 per share in an all-cash transaction for an equity value of over USD Seven billion as per the agreement, ZF, on the back of this merger is ready to set its foot in the commercial vehicle braking solutions for the first time.