The Competition Commission of India (CCI) has approved the proposed acquisition of 100% equity shareholding in AAM India Manufacturing Corporation Private Limited (AAMCPL) by Bharat Forge Limited (BFL), subject to voluntary modifications offered by the parties involved.

Bharat Forge, a global leader in forging and engineering solutions, operates across sectors such as automotive, defence, aerospace, oil & gas, and railways. It supplies forged axle sub-components both domestically and internationally.

The Target entity, AAMCPL, is engaged in the manufacture and sale of commercial vehicle axles in India.

Under the proposed transaction, before the acquisition, AAMCPL will hive off its Pune-based captive IT support and product engineering division as well as its components export business to affiliates of its parent company, American Axle & Manufacturing Holdings Inc. Additionally, e-axle assembly lines currently with AAM Auto Component (India) Pvt Ltd will be integrated into AAMCPL.

The Commission has approved the acquisition with voluntary modifications to address potential competition concerns. A detailed order will be issued in due course.