- ZF Group (ZF) continues to hold a solid majority in ZF Commercial Vehicle Control Systems India Limited (ZF CVCS India)
- 4.3 percent stake sold to institutional investors, to increase ZF Group’s flexibility for its growth
- ZF CV India stock has seen a strong performance for the last years
Chennai (India), Singapore, Nov 27, 2024: The world’s 3rd largest automotive supplier has sold 820,000 shares, equalling 4.3 percent stake, in its listed Indian subsidiary, ZF CVCS India, to increase liquidity and financial flexibility for its growth plans.
The sale of shares has no effect on ZF’s control of ZF CVCS India, as it is the long-term strategy of ZF to maintain its solid majority shareholding in the entity. ZF CVCS India is the market-leader in the Indian CV supplier industry and remains a very important pillar in ZF´s global growth strategy.
On the back of a supportive market environment in India, ZF CVCS India has shown a strong operating and financial performance. The transaction will strengthen the financial flexibility of ZF, allowing it to invest in its further growth, and in the dynamically developing Indian market.
For More Info :
Rachel Rhine / Ravi Shankar
rachel.rhine@mslgroup.com / ravishankar.kandarpa@mslgroup.com
