Bloomberg Anywhere Remote Login Bloomberg Terminal Request a Demo

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

ThyssenKrupp in Talks to Sell Federn Auto Suspension Unit

May 15 (Bloomberg) -- ThyssenKrupp AG, Germany’s largest steelmaker, is in talks with two potential buyers for the Federn automotive suspension business as it concentrates on chassis development.

ThyssenKrupp is in discussions to sell Federn’s non-European assets to Sogefi SpA and the European business to Max-Aicher Gruppe, the Essen-based company said in an e-mailed statement to Bloomberg. The Federn unit employs 2,800 people and has factories in countries including Germany, Brazil and China.

Sogefi will make a decision on an offer for the assets, which include plants in Mexico, Brazil and China and may be worth around 100 million euros ($128 million), by the end of July, said a person familiar with the negotiations, who declined to be identified discussing private talks.

The Italian car-parts maker is “very prudently looking at ThyssenKrupp’s dossier to see if it’s possible to make an acquisition,” Chief Executive Officer Emanuele Bosio told reporters in March. A spokesman for Sogefi, whose customers include PSA Peugeot Citroen, Ford Motor Co. and Fiat SpA, declined to comment on the matter today beyond Bosio’s statement.

ThyssenKrupp rose 25 cents, or 1.6 percent, to 16.01 euros in Frankfurt, reversing earlier losses of as much as 6.3 percent. Sogefi rose 1.7 percent in Milan trading.

Sogefi is 57 percent owned by Carlo De Benedetti’s Compagnie Industriali Riunite holding company, according to Bloomberg data. The manufacturer last year bought the French division of U.S. component manufacturer Mark IV LLC to expand outside Europe.

To contact the reporters on this story: Stefan Nicola in Berlin at snicola2@bloomberg.net; Tommaso Ebhardt in Milan at tebhardt@bloomberg.net

To contact the editor responsible for this story: Chad Thomas at cthomas16@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.