Board Fiem Industries decides to exit from JV Aisan Fiem Automotives

20 Feb 2022 , 01:35 AM

The Board Fiem Industries at its meeting held on 14 February 2022 has decided to exit from Joint Venture Company JV Company – Aisan Fiem Automotives India Accordingly in terms of Joint Venture Agreement JV Agreement FIEM Industries will in exercise of the put-option rights reserved under the JV Agreement offer the entire shares held by the Company in the JV Company to the other Joint Venture Partners for purchase at face value or fair market value whichever is higher FIEM Industries had invested Rs 26 crore for acquiring 26Percentage shareholding in the JV Company The exit process is expected to be completed within first quarter of next financial year