Bharat Forge Limited has recently informed exchanges that the company entered into a definitive agreement to acquire AAM India Manufacturing Corporation Private Limited, a subsidiary of American Axle & Manufacturing Holdings, Inc., for Rs. 5,445.30 million, subject to closing adjustments.
The acquisition would expand BFL’s product offerings and manufacturing footprint in India. The transaction is subject to CCI approval and is expected to close within 120 days of approval.
Amit Kalyani, Vice Chairman & Jt. Managing Director, Bharat Forge Limited stated, “We are delighted to welcome the AAMIMCPL team to the Bharat Forge family. We look forward to relying on their technical expertise and existing relationships with various industry players to further scale-up the business over the medium to long term.”
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