Haldex says: See ya, ZF

STOCKHOLM, Sweden – ZF has sold its stock in brake manufacturer Haldex as it works on closing its acquisition of Wabco, and Haldex chairman Jorgen Durban said he couldn’t be happier. In a cheeky press release, Durban said: “I might go so far as to call it an early Christmas present to both Haldex and our customers. If I could wish for another, it would be that Knorr-Bremse should now be inspired by the message and begin the process of selling its stake as well…We knew that ZF was very anxious to remove everything that was in the way of getting the Wabco deal approved by the competition authorities, but I am still surprised that they have moved with such high pace to solve this in only one week.”

Haldex said the sale of its stock by ZF will open more doors for strategic partnerships. And Durban made no secret of the fact Haldex will not be sad to see Knorr-Bremse sell its stake as well. “As I said, for both our customers and us it is more important that ZF leaves than Haldex acquiring a ‘perfect’ owner.

Of course, this also applies to Knorr-Bremse.

I will therefore sit down with our legal advisers next week to see what means we have for getting Knorr-Bremse to sell as well,” Durban concluded.

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