MILAN Nov 27 Italian car components maker
Sogefi said on Tuesday it has ended talks to buy
ThyssenKrupp's suspension business, Eibach Federn.
"We have decided not to continue," said Sogefi Chairman
Rodolfo De Benedetti. "We are focused on organic growth,
especially in emerging markets. There are no acquisition talks
on the table."
ThyssenKrupp was in talks to sell the springs and
stabilizers business, which was carved out of its Bilstein Group
unit, to Italy's Sogefi for 100-200 million euros ($129-259
million), Reuters reported on April 19.
The talks had focused on Eibach Federn's non-European
businesses and were contingent on ThyssenKrupp selling the
European assets of the company separately, a person familiar
with the situation told Reuters on Tuesday.
Sogefi is the second-largest worldwide producer of
suspension components, which accounted for 47.2 percent of its
revenue of 1.15 billion euros ($1.49 billion)in 2011. France is
its largest market, with 21 percent, followed by South America
(20.8 percent) and Germany (13.7 percent).
Sogefi's chief executive Emanuele Bosio has expanded
Sogefi's business in high-growth markets such as Brazil, India
and China to offset sluggish growth in Europe.
($1 = 0.7733 euros)
(Reporting by Jennifer Clark and Stephen Jewkes; Editing by