The Polish antitrust authorities have approved SAF-Holland’s acquisition of Swedish brake system and Electronic Braking System (EBS) specialist, Haldex AB.
The German and US antitrust authorities had previously given their consent. All approvals required by merger control law have therefore been obtained.
June last year, SAF-Holland SE announced a recommended cash offer to the shareholders of Haldex AB to acquire all of their shares at an offer price of SEK 66 per share in cash.
With the approval, the transaction will be closed and included in the scope of consolidation and in the financial reporting of the SAF-Holland Group with effect from 22 February 2023.
Both companies are therefore still reporting in separate annual financial statements for the 2022 financial year.
“We are already planning to issue a joint forecast for the 2023 financial year for the Group, including Haldex, at the analysts’ conference on March 30,” said SAF-Holland CFO, Frank Lorenz-Dietz.
The CEO of SAF-Holland SE, Alexander Geis, said: “We are pleased to note that the Polish competition authorities have finally given their approval.
“Technologically, SAF-Holland and Haldex are a perfect complement: the axle and suspension system, telematics and EBS control are now growing together to form an intelligent unit.
“In this way, we can drive forward the change in the transport industry in the future by developing innovative solutions for connectivity, electrification and autonomous driving. We now have the best prerequisites for the most important growth areas of the future, including predictive maintenance.”
In other news, SAF-Holland exceeded its 2022 sales targets.