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Auto-parts maker ZF to close $7B Wabco acquisition in Q2

German auto-parts maker ZF Friedrichshafen AG's proposed acquisition of Wabco Holdings Inc. is expected to be completed in the second quarter of 2020, the companies said March 24.

The deal has received approval from all the required regulatory bodies, apart from the Chinese State Administration for Market Regulation, which the companies said they expect "without significant delay."

ZF in March 2019 agreed to buy Wabco, a Switzerland-based manufacturer of braking systems for commercial vehicles, in a deal valued at more than $7 billion.