ZF is said to exit the joint venture to comply with anti-trust laws to complete its $7 billion global merger with listed US truck braking specialist Wabco Holdings Inc.
WABCO India Ltd in a regulatory filing in March 2019 said that WABCO Holdings Inc has entered into a definitive merger agreement with ZF Friedrichshafen AG.
"It also aims to leverage one of the finest academic research communities and the increasingly recognised rich and diverse talent pool for global development projects," ZF CEO Dr. Stefan Sommer said.
Germany's ZF Friedrichshafen AG is to buy Belgium-based Hansen Transmissions, which makes gearboxes for wind turbines, for USD 725.5 million to consolidate its position in the market for wind energy.
Suzlon Energy has agreed to sell 26% stake in Hansen Transmission Int to ZF Friedrichshafen AG, reports CNBC-TV18. It touched an intraday high of Rs 55.05 and an intraday low of Rs 52.35. At 12:19 hrs the share was quoting at Rs 54.55, up Rs 1.65, or 3.12%.