Bharat Forge to acquire AAM for over ₹500 Cr

New Delhi: Bharat Forge Limited entered into a definitive agreement to acquire AAM India Manufacturing Corporation Private Limited (AAMIMCPL) for an enterprise value of ₹544.53 Crores, pending closing adjustments.

According to the latest regulatory filings with the BSE, with this transaction, the company will acquire the commercial vehicle axle business of AAMIMCPL in Pune and Chennai, as well as the Pune Engineering and Development Centre.

The transaction is subject to approval from the Competition Commission of India (CCI) and will only be completed once the CCI grants its approval and all other standard closing conditions are met.

AAMIMCPL is a leading manufacturer of axles for light, medium and heavy-duty commercial trucks and passenger buses in India.

Established in 2008, AAM India Manufacturing Corporation Private Limited is a subsidiary of American Axle & Manufacturing Holdings, Inc.

On 2nd October, Kalyani Strategic Systems Ltd, a 100 percent subsidiary of Bharat Forge Limited, announced plans to enter into a multi-party agreement with leading United States defence companies, AM General and Mandus Group LLC, to explore the co-development and co-production of next-generation artillery gun platforms.

Bharat Forge Limited is engaged in the business of manufacturing and selling of forged and machined components including aluminium castings for the auto and industrial sectors as well as assembled products for the defence industry.

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