ZF starts selling controlling interest in HaldexSeptember 21, 2019
After the exchange closed on Thursday, ZF announced that the company is starting the process of selling its stake in Haldex. Despite the fact that the company already announced on September 12 that a sale should be expected, Haldex was pleasantly surprised that the process went so fast.
“We knew that ZF really wanted to remove everything that interfered with the approval of the agreement with Wabco by the antitrust authorities, but I’m still surprised that they moved so fast to solve this problem in just one week,” says Jorgen Durban.
Haldex believes that the sale of this stake will open up more opportunities for strategic partnerships. In this regard, this action takes place at an almost optimal time, as more and more people begin to realize that the entire industry is currently facing a change in technology when unmanned control and electrification are used as key components.
“The fact is that Haldex has an advantage in certain areas related to technological shift. Nevertheless, one of our owners, having the interests of two competing players in the brake market, means that we were not fully regarded as a long-term partner for several customers, because our, perhaps even the near future, was perceived as uncertain, ”says Jorgen Durban
It is also noted that Haldex does not want to speculate on who acquired the shares of ZF.
“As I said, for our customers and for us the fact of ZF’s departure is more important than the fact that Haldex would acquire a new ideal owner. Of course, this also applies to Knorr-Bremse. Therefore, next week I will talk with our legal advisers to find out what we can do to ensure that Knorr-Bremse also sells its stake, ” – concludes Jorgen Durban.
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