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Private Sector | Multi State - India | PID: 203788
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Pricol's Board of Directors at a meeting held on 02 December 2024 approved the proposal for acquisition of injection moulded plastic component solutions division of Sundaram Auto Components, a wholly-owned subsidiary of TVS Motor Company by Pricol Precision Products, a wholly-owned subsidiary of the company.
The cost of acquisition is Rs 215.3 crore, and will facilitate business operations of the wholly-owned subsidiary.
The Board also approved the investment in Pricol Precision Products upto an amount of Rs 120 crore in one or more tranches, as well as providing corporate guarantee for any loans to be obtained by Pricol Precision Products upto an amount not exceeding Rs 250 crore.
Sundaram Auto Components (SACL) is engaged in the business of manufacturing of automotive plastic components for passenger vehicles, including two-wheelers, four wheelers) and commercial vehicles.
| Updated on: 20 - Dec - 2024
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