ZF Sells Stake in Haldex

ZF Friedrichshafen AG has sold its 20% stake in Swedish brake system supplier Haldex SA.

ZF acquired the stake in 2016 in a failed attempt to prevail in a bidding war with rival Knorr-Bremse AG, which bought 10% of Haldex.

Neither suitor was able to complete the acquisition. Now Haldex management is hoping that Knorr-Bremse will be “inspired” by ZF’s action to sell its share of the company too.

Haldex Chairman Jorgen Durban tells Reuters that being partly owned by two of its biggest competitors erodes the company’s appeal to investors and potential customers. Knorr-Bremse tells the news service it is reviewing its strategic investments but has no plans to shed its stake in Haldex.