ZF Friedrichshafen (“ZF”) has successfully completed the sale of R.H. Sheppard (“Sheppard”) to Bendix Commercial Vehicle Systems (“Bendix”) for US$149.5 million. The divestment follows ZF’s acquisition of Wabco on 29 May, 2020.
Sheppard is a supplier of steering technologies for commercial vehicles, while Bendix is an indirect subsidiary of Knorr-Bremse, a global supplier of braking systems and other safety-critical rail and commercial vehicle systems.
The planned sale and divestment was previously announced on 30 January, 2020, in connection with the Antitrust Division of the US Department of Justice’s review of the merger between Wabco and ZF, and pursuant to the settlement order approved by the US District Court for the District of Columbia.
