Talbros to divest 40% stake for Rs 81
时间:2024-06-17 10:01:56 阅读（143）
Talbros Automotive Components (TACL), a component supplier for gaskets, heat shields, forgings, suspension systems, anti-vibration products and hoses has announced that its Board of Directors have approved the divestment of its entire 40% stake in its joint venture company Nippon Leakless Talbros.
After the stake sale Nippon Leakless will own 100% of the company. Talbros Automotive Components says it will realise Rs 81.8 crore for its entire 40 percent equity stake sale (JV Company valued at Rs 204.5 crore). This transaction is subject to certain conditions precedent and is expected to be completed in Q4FY24.
Anuj Talwar, Joint MD, Talbros Automotive Components said: “In a strategic review of the business, the Board of Directors have approved the divestment of its entire 40% equity stake in Nippon Leakless Talbros. There are immense opportunities in the Indian auto component industry including our current product portfolio. We believe the proceeds of this stake sale will help us further enhance the true potential of our product portfolio and capabilities as also to explore new opportunities. The proceeds will also help us invest in business to capitalise on the strong acceptance of our products and quality by both marquee domestic and International automotive OEMs.”
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(With PTI inputs)
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