Mergers - Acquisitions - Takeovers

Dana sells Venezuelan unit amid exchange rate trouble

4:05 pm U.S. ET | Jan. 26, 2015
As Venezuela’s automotive industry continues to falter amid exchange rate problems, powertrain supplier Dana Holding today said that it has sold its Venezuelan unit, CA Danaven....
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EDITORIAL

Be bold, spend big -- and don't go overboard

12:01 am U.S. ET | Jan. 26, 2015
Dealers, automakers and suppliers enter the new year on an investment kick....
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RICHARD JOHNSON

A new Gold Rush sweeps over California

12:45 pm U.S. ET | Jan. 25, 2015
Like Warren Buffett and George Soros, so-called hybrid buyers -- private equity funds and super-wealthy families and combinations of the two -- are on the hunt for dealership deals. This new category of dealership buyer could turn out to be as transformational as the six public groups that rolled up a significant part of the industry almost 20 years ago....
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AMY WILSON

How to get a deal done

2:00 pm U.S. ET | Jan. 25, 2015
One of the reasons it might be a great time to sell your dealership? Some of the private equity groups scouting auto retail are so eager to put their investors' money to work, they'll overpay, says Tim York, managing partner of accounting firm Dixon Hughes Goodman....
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George Soros' Wall Street fund shops for dealership groups

10:30 pm U.S. ET | Jan. 24, 2015
Wall Street fund Soros Fund Management wants to partner in, invest in or outright buy a large auto dealership group, according to four sources familiar with the situation. Two representatives of Soros Fund Management are at the NADA convention in San Francisco this weekend to research the industry and explore opportunities, sources say....
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EU regulators to rule on ZF's bid for TRW by Feb. 26

Jan. 23, 2015 15:09 CET
EU antitrust authorities will decide by Feb. 26 whether to approve German supplier ZF Friedrichshafen's $13.5 billion bid for U.S. rival TRW Automotive....
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Chinese aerospace firm pursues acquisition of U.S. supplier Henniges, report says

6:34 am U.S. ET | Jan. 22, 2015
AVIC, China's biggest aerospace company, is among bidders pursuing an acquisition of US auto supplier Henniges Automotive Holdings, people with knowledge of the matter told Bloomberg. AVIC could pay $1 billion for the acquisition, Bloomberg reported....
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Schaeffler shifts 34% Continental stake off balance sheet

Jan. 21, 2015 10:58 CET
Schaeffler says a 34 percent stake in rival Continental has been shifted off the books in a move toward a possible stock market listing. Schaeffler borrowed heavily to buy Continental in 2008 in a deal that unraveled during the financial crisis....
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TI Automotive, Bain near deal a year after failed effort, report says

9:10 am U.S. ET | Jan. 14, 2015
TI Automotive, the auto fuel-systems maker that came close to a deal with Bain Capital Partners LLC last year, is again near an agreement to sell itself to the private equity firm, people with knowledge of the matter told Bloomberg....
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2015 AUTOMOTIVE NEWS WORLD CONGRESS

Marchionne sees industry consolidation as a given

9:38 pm U.S. ET | Jan. 13, 2015
Fiat Chrysler Automobiles CEO Sergio Marchionne said further mergers in the automotive industry are inevitable, and questioned the way safety regulators are exercising their powers....
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Toyota welcomes Buffett to car business with Hollywood burgers

7:24 am U.S. ET | Jan. 13, 2015
When billionaire investor Warren Buffett became the newest entrant in the auto-dealership business last year, Toyota rolled out the red carpet. The world’s largest carmaker welcomed Buffett within weeks after his Berkshire Hathaway agreed to acquire Van Tuyl Group, the largest privately held US auto dealer group....
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DUSTIN WALSH

ZF CEO tells TRW staffers that jobs are safe

12:53 pm U.S. ET | Jan. 12, 2015
The $12.4 billion acquisition of TRW Automotive Holdings by Germany's ZF Friedrichshafen AG has many in metro Detroit afraid. But ZF CEO Stefan Sommer said at the Detroit auto show that those worries are for naught....
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Marchionne says industry may have over-reacted on recalls

12:11 pm U.S. ET | Jan. 12, 2015
Fiat Chrysler Automobiles CEO Sergio Marchionne today said incentive spending in the United States is not excessive and that the industry may have over-reacted on recalls....
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Visteon names two new board members

11:57 am U.S. ET | Jan. 7, 2015
Visteon named two new members to its board amid a flurry of merger and acquisition activity at the supplier in recent months....
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Lear completes acquisition of automotive leather supplier Eagle Ottawa

10:44 am U.S. ET | Jan. 6, 2015
Seating and electronics supplier Lear has closed on its $850 million acquisition of automotive leather supplier Eagle Ottawa LLC....
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Ferrari spinoff sets up Fiat Chrysler for another deal

Jan. 6, 2015 11:51 CET
Sergio Marchionne may not be finished with deals just yet. After completing the merger of Fiat and Chrysler and announcing a spinoff of Ferrari, the CEO said the industry is still fragmented and ripe for further consolidation....
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Dealertrack expands beyond U.S. with acquisition of German software provider

11:54 am U.S. ET | Dec. 18, 2014
Dealer software giant Dealertrack Technologies is expanding beyond North America with the acquisition of incadea, a dealer software provider based in Germany. Dealertrack plans to pay just over $190 million in cash for publicly traded incadea, the companies said today....
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Visteon to sell Halla Climate unit stake for $3.6 billion

12:38 pm U.S. ET | Dec. 17, 2014
Visteon has agreed to sell a majority stake in Halla Visteon Climate Control to South Korea’s Hankook Tire and its investment partner for $3.6 billion, to focus on connected-vehicle solutions and cockpit electronics....
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Mahindra nears deal to buy Saab maker, report says

Dec. 11, 2014 10:37 CET
India's Mahindra is close to sealing a deal to buy NEVS, the investment group that bought the assets of Saab Automobile, a report said. Mahindra wants Saab so it can accelerate its expansion into Western markets and into premium and electric cars....
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Mahindra will buy majority stake in Saab maker NEVS, report says

Dec. 1, 2014 16:48 CET
India's Mahindra & Mahindra has agreed to buy a majority stake in National Electric Vehicle Sweden (NEVS), the investment group that bought the assets of Saab Automobile two years ago, a report said....
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Group 1 snaps up 3 more dealerships in the UK

3:45 pm U.S. ET | Dec. 1, 2014
Group 1 Automotive Inc. is expanding its presence overseas with the purchase of three BMW-Mini dealerships in the United Kingdom. Terms were not disclosed, but the stores are expected to generate $225 million in annual revenues, Group 1 said in a statement....
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Visteon in talks to sell Korean joint venture

12:01 am U.S. ET | Dec. 1, 2014
Visteon Corp. confirmed that it's in discussions with a private equity firm to sell its stake in South Korean joint venture Halla Visteon Climate Control Corp....
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Halla mulls buying back Visteon stake in climate control unit

7:34 pm U.S. ET | Nov. 26, 2014
Halla CEO Im Kee Young said he's still considering buying back the group's former automotive heater and air conditioner maker after a buyout fund agreed to acquire a stake in the business, Halla Visteon Climate Control....
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Delphi's Korean partner complicating sale of thermal unit

1:15 pm U.S. ET | Nov. 26, 2014
Delphi Automotive's sale of its air conditioning business is being complicated by potential problems with one of its South Korean joint venture partners, three people familiar with the deal said....
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Visteon confirms discussions to sell stake in climate control joint venture

8:16 am U.S. ET | Nov. 25, 2014
Visteon Corp. confirmed this morning that it's in discussions with a private equity firm to sell its stake in South Korean joint venture Halla Visteon Climate Control Corp....
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