ZF steps back from Haldex

ZF has not just exited the take-over race for Swedish braking technology expert, Haldex, but is now also reducing its original 21.67 per cent shareholding in the company.

According to an official media statement, ZF has already reduced its shareholding to 20.11 per cent and intends to accept an offer made by Knorr-Bremse to purchase its entire remaining stake, too.

“ZF has been and continues to be committed to creating favourable conditions for the company and its business while protecting the interests of ZF and reducing its financial exposure,” the company said.

“The intention to tender supports ZF’s aim of increasing stability for Haldex, its employees, and its customers.”

ZF made sure to point out that it will stay true to its strategy of “meeting future megatrends”.

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