CCI Greenlights Bharat Forge’s ₹544 Crore AAM India Axle Buyout

The Competition Commission of India (CCI) has cleared Bharat Forge's acquisition of AAM India Manufacturing Corporation, a major supplier of commercial vehicle axles, after the firms offered voluntary changes to mitigate antitrust issues. The ₹544.5 crore ($65 million) transaction, announced in October 2024, involves AAM's Pune and Chennai plants and its engineering center. Key points: Scope: Bharat Forge acquires AAM's light/medium/heavy-duty axle business, strengthening its presence in commercial vehicle components. Conditions: CCI insisted on March 2025 public consultations for possible dangers of market dominance, considering Bharat Forge currently has existing interests in axle JVs like Automotive Axles. Strategic shift: AAM exits India's CV axle business to focus on passenger vehicle electrification across the world. The clearance adds to Bharat Forge's position as a diversified auto components market leader as CCI ensures its caution towards anti-competitive mergers Sources: Business Standard, Economic Times, AAM Press Release