The Competition Commission of India (CCI) has approved the acquisition of 100% equity shareholding of AAM India Manufacturing Corporation Private Limited (AAMCPL) by Bharat Forge Limited (BFL), with voluntary modifications proposed by the parties involved.
Bharat Forge Limited, a global leader in safety-critical forged components and solutions across sectors such as automotive, railways, defence, aerospace, and energy, will strengthen its portfolio with this acquisition. BFL’s promoters also have controlling stakes in two joint ventures in India with Meritor Heavy Vehicle Systems, now part of Cummins Inc.
AAMCPL, incorporated in India, is primarily engaged in manufacturing and selling axles for commercial vehicles. Before the acquisition, AAMCPL will restructure its operations by hiving off its Pune Business Office (IT and engineering services) and its components business division to affiliates of its parent company, American Axle & Manufacturing Holdings Inc. Additionally, e-axle assembly lines from a sister concern will be integrated into AAMCPL.
The Commission has approved the transaction subject to compliance with the voluntary modifications offered by the parties. A detailed order from CCI will be issued shortly.
