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Bharat Forge Invests in Refu Drive GmbH in Germany

Auto News - Published on Fri, 20 Sep 2019

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Bharat Forge Limited announced that in continuation of intimation dated June 7, 2019, regarding execution of Joint Venture Agreement between the Company and Refu Electronik GmbH, Germany and its Affiliates / Promoters, REFU has incorporated a company under the laws of Germany in the name of Refu Drive GmbH and has fulfilled the conditions as mentioned in the Share Purchase Agreement and Joint Venture Agreement

Upon fulfillment of the conditions as mentioned in the Transaction Documents, the Company on September 19, 2019 has invested EUR 11.35 Million and acquired 50% stake in Refu Drive GmbH.

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Posted By : Mohan Sharma on Fri, 20 Sep 2019
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