ZF Group sells 4.3% stake in ZF CVCS India to boost liquidity

Global technology company ZF Group has sold 8,20,000 shares equalling 4.3% stake in its listed Indian subsidiary ZF Commercial Vehicle Control Systems India (ZF CVCS India) to increase liquidity and financial flexibility for its growth plans.

The sale of shares has no effect on ZF’s control of ZF CVCS India, as it is the long-term strategy of ZF to maintain its solid majority shareholding in the entity, the world’s third largest automotive supplier said in a statement.

ZF CVCS India is the market-leader in the Indian CV supplier industry and remains a very important pillar in ZF´s global growth strategy.

The transaction will strengthen the financial flexibility of ZF, allowing it to invest in its further growth, and in the dynamically developing Indian market.