Minda Industries announced that the company through its wholly owned subsidiary has won the Bid for acquisition of 51% stake from existing shareholder UzautoComponents LLC in it's JV UzChasys LLC (UzChasys).
The cost of acquisition is 83.1 billion Soums (equivalent to Rs 58.13 crore)
UzChasys is company, established and operating in the Republic of Uzbekistan. It is a joint venture of AMS Co. and UzautoComponents LLC, in which 30% stake is held by AMS Co. and 70% stake is held by the UzautoComponents LLC.
UzChasys is engaged in the manufacture of automobile headlights and lamps and is a leading OEM Supplier in Uzbekistan.
The proposed investment in UzChasys, will enable the UNO Minda Group to have significant presence in Uzbekistan, as a leading OEMs Supplier.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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