Gurugram, Uttar Pradesh
Minda Industries
Ltd is all set to fully acquire Harita Fehrer Ltd (HFR), which started as a
joint venture between Harita Seating Systems Limited (HSSL) and F.S. Fehrer Automotive
GmbH.
When Minda
acquired HSSL effective from April 01, 2021, it became the shareholder of
HSSL’s 51% in HFR. Fehrer held on to its existing 49% equity stake in Harita
Fehrer Ltd.
Now, the Board
of Harita Fehrer Ltd has approved Minda’s purchase of the 49% stake from Fehrer
comprising of Rs. 9.85 million equity share of face value Rs.10 each for a
total consideration of Rs 1.15 billion. After the acquisition, Harita Fehrer
Ltd will become a wholly-owned subsidiary of Minda Industries.
Harita Fehrer
Ltd is involved in manufacturing seats for the automotive industry and offers
moulded foam, armrest, headrests, two and three-wheeler seats, polyurethane
composites, spring aids and bump stops.
Source – Equity Bulls
Image Source: UnoMinda Facebook Page
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