Bharat Forge Ltd has entered into a definitive agreement to acquire AAM India Manufacturing Corporation Pvt Ltd (AAMIMCPL) for an enterprise value of Rs 5,445.30 million, pending closing adjustments.
Through this acquisition, Bharat Forge will gain AAMIMCPL’s commercial vehicle axle business located in Pune and Chennai, along with the Pune Engineering and Development Centre. The transaction is subject to approval from the Competition Commission of India (CCI) and will be finalised only after meeting regulatory requirements.
Amit Kalyani, Vice Chairman and Joint Managing Director of Bharat Forge, expressed excitement about integrating AAMIMCPL’s team and technical expertise into the company. He highlighted the acquisition as a significant step in Bharat Forge’s journey to expand its product solutions in-vehicle components.
AAM Chairman and CEO David C Dauch noted that selling the commercial vehicle axle business allows AAM to focus more on passenger vehicle applications and ensures a smooth transition during the ownership change. The deal awaits customary closing conditions and regulatory approvals.
