Joint Venture2 Sept 2024, 09:49 pm
Uno Minda Ltd. to Acquire 49% Stake in Minda Nabtesco Automotive Private Limited
AI Summary
Uno Minda Ltd. (formerly Minda Industries Limited) has announced its decision to acquire a 49% equity stake in Minda Nabtesco Automotive Private Limited from Nabtesco Automotive Corporation, Japan. The target entity is a joint venture company involved in designing, developing, and manufacturing various automotive parts. The acquisition will make the target entity an associate company of Uno Minda Ltd. The transaction is not a related party transaction and will be completed by the quarter ending December 31, 2024. The consideration for the acquisition is cash consideration.
Key Highlights
- Uno Minda Ltd. to acquire 49% equity stake in Minda Nabtesco Automotive Private Limited
- Target entity is a joint venture company involved in automotive parts manufacturing
- Post-acquisition, the target entity will become an associate company of Uno Minda Ltd.
- Transaction is not a related party transaction
- Consideration for the acquisition is cash consideration