Uno Minda Limited has announced the acquisition of 49% equity shares in Minda Nabtesco Automotive Private Limited (MNAPL) from Nabtesco Automotive Corporation, Japan.
The acquisition involved purchasing 24,769,500 equity shares for a total consideration of ₹1.3 crore (₹13 million).
With this strategic acquisition, MNAPL has now become an associate company of Uno Minda Limited, strengthening the company’s foothold in the automotive sector.
Uno Minda stated in exchange filing – “We wish to inform that the Company, Uno Minda Limited has acquired 24769500 equity shares i.e., 49% stake of Minda Nabtesco Automotive Private Limited (“MNAPL”) from M/s. Nabtesco Automotive Corporation, Japan, for a total consideration of INR 1,30,00,000/- (Indian Rupees One Crore Thirty Lakhs Only).”
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