Friday, January 22

ZF’s Purchase of WABCO Approved by EU

BRUSSELS – The German automotive component producer ZF’s $7 billion purchase of U.S.-based WABCO was approved today by the European Union.  The deal had been approved a year ago by WABCO shareholders; final consummation of the agreement had been dependent upon governmental approvals.

The EU said the agreement met antitrust parameters, offering no competition issues for the group.

About Author

Mike Geylin

Mike Geylin is the Senior Editor for The BRAKE Report. Geylin has been in automotive communications for five decades working in all aspects of the industry from OEM to supplier to motorsports as well as reporting for both newspapers and magazines on the industry.