ZF Plans to Divest 20% Stake in Haldex

ZF Friedrichshafen AG says it is evaluating options to sell its 20% stake Haldex AB, the Swedish brake specialist it unsuccessfully tried to acquire in 2016.

ZF lost a bidding war for Haldex to rival Knorr-Bremse AG, which also failed to acquire the Swedish company. Knorr-Bremse still owns about 10% of Haldex.

Earlier this year, ZF agreed to buy Wabco Holdings Inc. for $7 billion. U.S.-based Wabco supplies brake and suspension systems to the commercial vehicle industry. That deal provides ZF with the access to the commercial vehicle brake market it had sought to attain through Haldex.