Mahindra & Mahindra, the Hinduja
Group and Bharat Forge have joined the race to buy the forging unit of
Germany-based ThyssenKrupp AG. The deal is estimated at around $1 billion
(approx. Rs.4,000 crore).
The forgings unit belongs to ThyssenKrupp
Technologies, a subsidiary of the ThyssenKrupp AG. ThyssenKrupp Technologies's
mechanical components unit makes crankshafts through a forging line. The company
had sold its precision forging business to the Delhi-based Sona Group for an
undisclosed amount in January 2008.
Also See:
Sona Okegawa acquires
German forging company (22-Jan-08)