Gabriel India Ltd. and SK Enmove Co., Ltd. Form a Joint Venture Company
Gabriel India Ltd. and SK Enmove Co., Ltd. have agreed to form a joint venture company (JV Co.) to undertake the business of engineering, designing, developing, manufacturing, packaging, import, blending, assembly, marketing, sales and distribution and exports of various types of engine oils, e-fluids, SAO, industrial lubricants, greases and e-thermal fluids in identified territory. Gabriel India will invest up to INR 29.40 crores in the equity share capital of the JV Co., holding 49% of the total equity share capital. The JV Co. will execute a Joint Venture Agreement (JVA) with SK Enmove Co., Ltd, and other related agreements including Technology License Agreement (TLA), Corporate Service Agreement (CSA), 2ZIC Trademark and Brand License Agreement, and Business Transfer Agreement (BTA) with respective parties.
Key Highlights
- Formation of a joint venture company between Gabriel India Ltd. and SK Enmove Co., Ltd.
- Gabriel India to invest up to INR 29.40 crores in the JV Co., holding 49% of the total equity share capital.
- Execution of Joint Venture Agreement (JVA), Technology License Agreement (TLA), Corporate Service Agreement (CSA), 2ZIC Trademark and Brand License Agreement, and Business Transfer Agreement (BTA) between respective parties.
- JV Co. to carry on the business of various types of engine oils, e-fluids, SAO, industrial lubricants, greases and e-thermal fluids.
- Incorporation of a wholly owned subsidiary by Gabriel India to hold 49% of the total equity share capital of the JV Co.