The merger of Wabco and ZF Friedricshafen looks close to being complete having received all approvals from regulatory authorities required to close the previously announced alliance, with the exception of the Chinese State Administration for Market Regulation (SAMR), the two companies have said.
“Wabco and ZF anticipate that SAMR approval will be received without significant delay,” the joint statement said.
The transaction will close in the second quarter of 2020, when the final clearance is granted.
The privately held ZF is a leading supplier of mobility systems for passenger cars and commercial vehicles. and is based in Germany while Wabco, is based in Switzerland, and is a global supplier of braking control systems and other technologies that improve the safety, efficiency and connectivity of commercial vehicles.