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Germany's Knorr-Bremse could make further acquisitions
March 27, 2017 / 9:45 AM / 8 months ago

Germany's Knorr-Bremse could make further acquisitions

MUNICH (Reuters) - German car parts maker Knorr-Bremse [STELLG.UL] could make further acquisitions worth around 500 million euros ($543 million) each, after making a bid for Sweden’s Haldex (HLDX.ST), the group’s chief executive told Reuters.

“We are not yet finished with the expansion and revamp of the company,” Klaus Deller said in an interview on Monday, without providing details on possible targets.

Knorr-Bremse has offered 5.53 billion Swedish crowns ($630 million) for Swedish brake systems maker Haldex but is still waiting for clearances from competition authorities.

Deller said Knorr-Bremse had received positive feedback from the authorities and said he was convinced the takeover would largely be approved.

“Even if we had to divest some parts, it wouldn’t change the rationale,” he said.

Reporting by Irene Preisinger; Writing by Maria Sheahan; Editing by Victoria Bryan

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