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Minda Industries investment in Harita Fehrer via 49% stake purchase of F.S. Fehrer Automotive GmbH gets delayed

The company is set to acquire 98,48,040 equity shares of face value Rs10 each, for a total consideration of Rs115cr.

November 30, 2021 11:12 IST | India Infoline News Service
Minda Industries
Minda Industries Limited informed the exchanges that procedural regulatory compliances are still under progress and the proposed acquisition will be done post completion of procedural regulatory compliances on or before March 31, 2022.

The Board of Directors of the Company at their meeting held on June 13, 2021, had approved the investment in Harita Fehrer Limited by way of purchasing of 49% stake of F.S. Fehrer Automotive GmbH in HFR, comprising of 98,48,040 equity share of face value Rs10 each, for a total consideration of Rs115cr.

The said acquisition was subject to completion of procedural regulatory and other compliance and was expected to be completed by November 30, 2021. Post-acquisition, HFR will become wholly owned subsidiary of the Company.

At around 11.15 am, Minda Industries Ltd was trading at Rs881.95 per piece up by Rs11 or 1.26% from its previous closing of Rs870.95 per piece on the BSE.

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