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Bosch bid for auto brakes firm Pacifica succeeds

From Reuters| February 26 , 2007 16:20 BJT

Robert Bosch's $236 million (Australian $298.5 million) friendly bid for Australian automotive brake maker Pacifica Group has succeeded, Bosch said today.

Bosch received 50.86 percent of the shares in Pacifica and said it would integrate it into its Chassis Systems Brakes operations. Pacifica posted $629.3 million (480 million euros) in annual revenue in 2005.

The offer runs until March 4.

"The takeover of the Pacifica Group will bolster our brake business, above all in America and Asia-Pacific," Bosch automotive division head Bernd Bohr said in a statement.

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