Automotive Industry
Industry: Email Alert RSS FeedINA shows private firms can acquire.
Automotive News Europe, January, 2002 by Chew, Edmund
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INA's acquisition of FAG is an unusual case of a private company launching a hostile takeover of a public one - and then successfully taking it private.
Doing so in Germany's formal and proper business atmosphere is even more unusual, says financial analyst Philip Wylie at PricewaterhouseCoopers.
The FAG acquisition cost INA E720 million. The process created the world's second biggest bearings company, with 52,000 employees and annual sales of E6.5 billion.
Half of the new group's sales are to the automotive industry.
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