Bharat Forge Ltd (BFL) has finalised the acquisition of AAM India Manufacturing Pvt Ltd for the value of ₹746.46 crore. This acquisition marks a significant step towards expanding the automotive product portfolio. The acquisition was approved on 22nd April by the Competition Commission Of India (CCI).
This acquisition was completed at an equity value of 746 crore, which includes 189 crore in cash on AAM India Manufacturing’s financial records. The cash reserve is expected to be used in the future for growth.
“We are acquiring an entity which has a formidable name in the automotive products space, supplying to all major OEMs across traditional and New Mobility technology. This acquisition will enable us to complement our component offerings with product solutions for OEMs in India & globally.” BFL stated in the press release.
The acquisition of AAM India Manufacturing will enhance Bharat Forge’s presence in the automotive components market. Leveraging AAM India’s supplier chain, BFL aims to cater to both traditional and new mobility technologies. The presence of CASG with AAM India will also support the initiatives in the future.
