The Competition Commission of India has approved the proposed acquisition of 100 per cent shareholding of Dowlais Group plc by American Axle & Manufacturing Holdings Inc.

This proposed combination involves acquiring the entire issued and to-be-issued ordinary share capital of Dowlais Group plc, resulting in sole control by American Axle.

American Axle & Manufacturing Holdings Inc, listed on the New York Stock Exchange, is the ultimate parent entity of the AAM group. Globally, the group is involved in designing and manufacturing drive transmission components and metal forming technologies for electric, hybrid and internal combustion vehicles. In India, the group supplies drive transmission and metal automotive components.

Dowlais Group plc, listed on the London Stock Exchange, is the ultimate parent entity of the Dowlais group. Globally, the group focuses on driveline product development, sintered metal product manufacturing for automotive and industrial use, metal powder atomisation, and additive manufacturing. In India, it is similarly engaged in supplying drive transmission and metal automotive components.

A detailed order from the Commission will be issued soon.

Source: Press Information Bureau (PIB) Delhi