Reuters reported that Italian car components maker Sogefi has ended talks to buy ThyssenKrupp's suspension business, Eibach Federn.
Mr Rodolfo De Benedetti chairman of Sogefi said that "We have decided not to continue. We are focused on organic growth, especially in emerging markets. There are no acquisition talks on the table."
ThyssenKrupp was in talks to sell the springs and stabilizers business, which was carved out of its Bilstein Group unit, to Italy's Sogefi for EUR 100 million to EUR 200 million euros (USD 129-259 million).
A person familiar with the situation told Reuters that the talks had focused on Eibach Federn's non-European businesses and were contingent on ThyssenKrupp selling the European assets of the company separately.
Sogefi is the second-largest worldwide producer of suspension components, which accounted for 47.2% of its revenue of EUR 1.15 billion (USD 1.49 billion)in 2011. France is its largest market, with 21%, followed by South America (20.8%) and Germany (13.7%).