M&A

M&A

Tractor-maker TAFE acquires India interior systems biz of French co Faurecia for Rs.400-Cr

Business Line  

TAFE, the Chennai-headquartered manufacturer of tractors and farm equipment, has acquired the India interior systems business of French global automotive supplier Faurecia for about INR 400 crore. A part of the Group Forvia, Faurecia provides automotive solutions across four business groups — seating, interiors, electronics and clean mobility. Faurecia's India interior systems business serves auto majors such as Mobis-Kia, Mobis-Hyundai, Volkswagen, FCA and Tata group. The deal covers Faurecia's operations in Maharashtra (Chakan), Andhra Pradesh (Anantapur) and Tamil Nadu. The transaction with respect to Chakan and Anantapur has been completed. The Tamil Nadu operation is expected to be concluded shortly.