Acquisitions20 Aug 2025, 06:52 pm
Popular Vehicles Subsidiary Prabal Motors to Acquire BharatBenz Dealership Business for Rs. 12 Crores
AI Summary
Popular Vehicles and Services Ltd announced that its step-down subsidiary, Prabal Motors Private Limited, has entered into a Business Transfer Agreement (BTA) with Globe CV Private Limited. The agreement is for the purchase of Globe CV's BharatBenz dealership business in the state of Punjab on a slump sale basis for a lump sum consideration of Rs. 12 crores. This disclosure is in accordance with Regulation 30 of the SEBI (LODR) Regulations, 2015.
Key Highlights
- Prabal Motors, a step-down subsidiary of Popular Vehicles, to acquire BharatBenz dealership business from Globe CV Private Limited.
- The deal is a slump sale agreement for a lump sum consideration of Rs. 12 crores.
- The acquisition is expected to strengthen Popular Vehicles' presence in the state of Punjab.
- The deal is in line with Popular Vehicles' strategic growth plans.
- The acquisition is subject to necessary approvals.