Bharat Forge (BFL) has entered into a definitive agreement to acquire AAM India Manufacturing Corporation (AAMIMCPL), a subsidiary of American Axle & Manufacturing Holdings, Inc. (AAM), at an enterprise value of Rs 5,445.30 million, subject to closing adjustments. This transaction will enable BFL to expand its increase its customer base and expand its manufacturing presence in India.
Established in 2008, AAMIMCPL is a leading manufacturer of axles for light, medium and heavy-duty commercial trucks and passenger buses in India. With this transaction, the company will acquire commercial vehicles axle business of AAMIMCPL in Pune (India) and Chennai (India) along with the Pune Engineering and Development Center. The transaction is subject to approval from the Competition Commission of India (CCI) and will close only after receiving the CCI’s approval and upon fulfilment of other customary closing conditions.
Bharat Forge is engaged in manufacturing of close die and open die forging, crankshafts, front axle beams, steering knuckle, connecting rods, rocker arm and many more components.
