MUNICH -- Powertrain expert BorgWarner Germany wants to squeeze out German
diesel technology supplier Beru's minority stakeholders at the companys annual general meeting on May 20, 2009.
On January 7, BorgWarner informed Beru's executive board of its request that the outstanding shares held by Berus minority shareholders be transferred to BorgWarner Germany as the principal shareholder. In return, the minority stakeholders will get "adequate cash compensation," Beru said in a press release the same day.
BorgWarner Germany holds over 95% of Beru's share capital.
U.S. supplier BorgWarner said in November that it expects to book about 1.6
billion euros gross of new powertrain business between 2009 and 2011. The company
said that half of the new business will come from European-based projects.
You may e-mail Bettina Mayer at [email protected]