ZF Friedrichshafen said it was making good progress with the new planned strategic focus in the commercial brakes area and may divest its 20% holding in Haldex.

"As a result of this, ZF is considering options to divest its stake in Haldex subject to market conditions, it said in a statement.

ZF through its wholly-owned subsidiary ZF International currently holds around 8.9m shares in Haldex, or approximately 20% of Haldex's outstanding share capital.

The supplier did not provide any further detail.

Haldex said in a statement: "Haldex notes that its largest shareholder, ZF Friedrichshafen AG, this morning announced that it intends to divest its shareholding in Haldex, reportedly consisting of 8.9m shares.

Last month, Helene Svahn, a board member, professor at KTH Royal Institute of Technology in Sweden and head of research and innovation at Permobil took over as Haldex CEO from Ake Bengtsson, who had been in the top role since the 2017 bidding process with Knorr-Bremse.

Auto market intelligence
from just-auto

• Auto component fitment forecasts
• OEM & tier 1 profiles & factory finder
• Analysis of 30+ auto technologies & more