Coverage tagged Mergers and acquisitions.
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Ferrari F1 driver Fernando Alonso’s negotiations to acquire the Euskaltel-Euskadi cycling team collapsed in late September 2013, ending hopes of his immediate entry into professional cycling.
A consortium led by Hamburg lawyer Ingo Voigt has tabled a $25 million bid to acquire the insolvent US plug-in car maker Fisker, aiming to restart Karma production in America.
Sirius XM Radio is buying Agero’s connected-vehicle unit in a $530 million cash deal, aiming to expand its telematics and in-car connected services business.
France’s finance ministry is seeking external financial advice as PSA Peugeot Citroën explores potential alliances and faces ongoing financial pressure in 2013.
After years of financial turmoil and insolvency, the Nürburgring circuit has been acquired by German auto parts maker Capricorn, with a €100 million deal and plans for further investment.
A123 Systems has secured final court approval for its bankruptcy reorganisation, clearing the way for Wanxiang’s acquisition and creditor repayments after months of uncertainty.
Daimler has sold its remaining 7.5% stake in EADS for €2.2 billion, closing a decade-long investment in the Airbus parent to focus on its core automotive business.
Mercedes-Benz’s plan to invest €640 million for a 12% stake in BAIC could open the door for the Chinese automaker to build cars using Mercedes vehicle platforms.
Fiat is negotiating a $2.5 billion credit line to buy the remaining 41.5% of Chrysler from the UAW’s healthcare trust, aiming for full control and a global merger.
Geely has decided not to pursue a majority stake in Fisker Automotive, citing US government loan conditions tied to the Delaware plant as a key obstacle.
Volkswagen CEO Martin Winterkorn says the group remains alert to new acquisition opportunities, following the recent additions of Ducati and Porsche to its portfolio of 12 brands.
Chinese carmaker Geely will invest $151.7 million in Manganese Bronze Holdings, aiming to restore profitability and expand the iconic London taxi brand overseas.
BMW has agreed to sell its Husqvarna motorcycle subsidiary to Austria’s Pierer Industrie, owned by KTM CEO Stefan Pierer, as part of a shift in BMW Motorrad’s strategic focus.
Fiat-Chrysler aims to expand its North American range to 16 Fiat and Alfa Romeo models by 2016, including new entries from both brands and the Alfa 4C sports car.
Chinese automotive supplier Wanxiang aims to acquire A123 Systems’ civilian battery business using an independent trust, seeking to address US national security concerns and close the deal by February 2013.
National Electric Vehicle Sweden has agreed a 2 billion SEK investment with Qingdao, giving the city a 22% stake and a role in future Chinese EV production.
Opel has dismissed a French media report suggesting PSA Peugeot Citroën could acquire it to challenge Volkswagen’s dominance in Europe, calling the speculation unfounded.
Opel has dismissed reports that its alliance with PSA Peugeot Citroën is faltering, stating that joint projects in logistics, purchasing and product development remain on track.
Cosworth’s owners have hired UBS to seek a buyer after the loss of Williams and Caterham leaves the British engine builder’s Formula One future uncertain.
Volkswagen Group’s luxury marques, now including Porsche, contributed 54 percent of group earnings in the first half of 2012, overtaking the volume brands for the first time.
NEVS has secured the rights to use the Saab name for its new electric car, resolving a dispute over the brand and clearing the way for production in Trollhättan next year.
Completion of Saab’s sale to National Electric Vehicle Sweden has been postponed after complications with the rights to the Saab name and delays in securing funding.
Volkswagen finalised its acquisition of the remaining 50.1% stake in Porsche on 1 August 2012, consolidating the sports car maker under its corporate umbrella after years of legal and financial manoeuvring.
Volkswagen AG will acquire full ownership of Porsche’s operating business on 1 August 2012, paying Porsche SE €4.46 billion plus one ordinary VW share.