Musashi, Bharat Forge mull bids for Amtek unit

Mumbai

MUSASHI Seimitsu Industry Co and Bharat Forge Ltd are among companies weighing bids for the German unit of cash-strapped car-parts maker Amtek Auto Ltd, people familiar with the matter said.

The New Delhi-based component supplier is seeking a valuation of more than US$800 million for its Amtek Tekfor Holding GmbH unit, two of the sources said, asking not to be identified as the information is private. Spain's CIE Automotive SA has also shown preliminary interest in Tekfor and is analysing the business, the Bilbao-based company's external press office said in response to questions.