ZF Completes TRW Acquisition

Privately held ZF Friedrichshafen AG has completed its acquisition of Michigan-based TRW Automotive Holdings LLC for $13.5 billion (€11.8 billion), including the assumption of debt.

The combined company will retain ZF's current name. TRW, a supplier of airbag systems and automotive electronics, will operate as the company's new Active and Passive Safety Technology division. ZF says the process of integrating the two companies will continue for at least three years.

TRW shares were delisted on the New York Stock Exchange as of Friday. Each outstanding TRW shares has been converted into the right to receive $105.60 (€92.22).

The merger creates an auto supplier with some 130,000 employees and annual sales of more than €30 billion, making it second in revenue only to Robert Bosch GmbH.