Mergers - Acquisitions - Takeovers

Renault delays AvtoVAZ consolidation

Feb. 12, 2015 17:19 CET

Renault may delay adding Russian unit AvtoVAZ to its books, insulating the company from the country's political and economic turmoil. Renault originally intended to consolidate AvtoVAZ, which builds Ladas, this year but finance chief Dominique Thormann said that probably will not happen in 2015....
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Audi buys Ballard fuel-cell tech to boost clean-car push

Feb. 11, 2015 16:27 CET

VW Group's Audi unit bought fuel-cell technology from Ballard Power Systems in a deal worth as much as $112 million to advance development of clean-running vehicles at the automaker. Audi bought about 700 patents from Ballard....
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MIKE COLIAS

BLOG: How much damage can GM's financial 'fortress' sustain?

1:54 pm U.S. ET | Feb. 10, 2015

Marauders are storming GM's “fortress balance sheet.” Or at least, they're knocking loudly on the door....
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Penske Automotive pushes further into commercial vehicles

1:12 pm U.S. ET | Feb. 10, 2015

Penske Automotive Group is putting its attention and investment dollars deeper into the commercial vehicle business. The company announced today its US-based commercial-vehicle dealership business will be called Penske Commercial Vehicles, US....
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Group 1's adjusted Q4 net hits record; GAAP operating profits, net fall

8:56 am U.S. ET | Feb. 5, 2015

Group 1's fourth-quarter adjusted net income rose 41 percent to a record $41 million, on an 11 percent rise in revenue, the nation's third-largest auto retailer said today....
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EDITORIAL

New players are changing rules of retailing game

12:01 am U.S. ET | Feb. 2, 2015

If the deal by Warren Buffett's Berkshire Hathaway to buy the Van Tuyl Group wasn't enough of a signal, certainly the agents of billionaire George Soros' investment fund and other investor groups prowling the floors of the National Automobile Dealers Association convention in San Francisco last month removed all doubt. Bigger players have checked into the game....
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THE NEW FACE OF RETAIL?

Moguls, superrich families and private-equity titans prowl for dealerships

12:01 am U.S. ET | Feb. 2, 2015

First Warren Buffett. Then George Soros. Who's next? Outside investors are shopping for auto retailers in greater numbers - and with larger checkbooks - than the industry has ever seen....
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Bosch says automotive sales rose 9% in 2014

Jan. 30, 2015 11:30 CET

Bosch said revenue at its automotive division rose 9 percent to 33.3 billion euros ($37.7 billion) last year, boosted by growth in sales of car safety, fuel-saving technology and infotainment systems. The supplier also said it is looking at acquisitions for its non-automotive businesses to reduce dependence on the car industry....
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Group 1 and Prestige settle Fla. buy-sell dispute

3:50 pm U.S. ET | Jan. 29, 2015

A dispute between Prestige Motor Car Imports and Group 1 Automotive over a buy-sell deal in Florida gone wrong is settled and the deal is back on -- for now, both sides said....
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Over-the-air auto software updates opens market to acquisitions

2:47 pm U.S. ET | Jan. 28, 2015

Over-the-air software updates -- a no-fuss, no-muss infotainment feature popularized by Tesla Motors -- is rapidly spreading to the entire auto industry, fueling high-price acquisitions in the segment....
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TI Automotive to be acquired by Bain for $2.4 billion, report says

8:36 am U.S. ET | Jan. 27, 2015

Global fuel systems supplier TI Automotive, after months of wrangling and speculation, said today it has agreed to be acquired by private equity firm Bain Capital LLC. The deal is valued at $2.4 billion, sources told Bloomberg....
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Soros is ready to move on auto dealerships

3:40 pm U.S. ET | Jan. 26, 2015

Wall Street powerhouse Soros Fund Management is ready to move on a deal to acquire auto dealerships, a representative of the fund said at a private dinner Saturday in San Francisco, according to two sources who attended the event. Soros is prepared to invest as much as $1 billion on dealerships, one of the sources said....
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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

BLOG: 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

BLOG: 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

BLOG: 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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