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JBM Group acquires majority stake in Germany's Linde-Wiemann

The financing of the entire transaction has been done by ICICI Bank

Alongside the automotive-technology spending, Volkswagen plans a five-year, ^72-billion budget for investment on property, plant and equipment. Photo: Reuters
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Alongside the automotive-technology spending, Volkswagen plans a five-year, ^72-billion budget for investment on property, plant and equipment. Photo: Reuters

Megha Manchanda New Delhi
JBM Group, with business interests in auto systems and assemblies, on Monday said it had partially acquired Germany’s Linde-Wiemann GmbH KG, a manufacturer of complex structural components and assemblies supplying to global automotive maker.

It is learnt that the JBM Group will become a majority shareholder in Linde-Wiemann with 60 per cent stake. The acquisition will bring new products, global customers, new German technologies for JBM Group that will not only help in expanding the global footprints for the home-grown conglomerate but will also aid in adding strategic value to its Indian operations, thereby increasing the Group’s long-term competitiveness, JBM

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First Published: Feb 25 2019 | 9:26 PM IST

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