Hotline: 1800 102 2007
Hotline: 1800 102 2007
May, 19 2018

Precision Camshafts to buy 51% Stake In Dutch Auto Parts Maker Emoss

Precision will buy the stake through Dutch unit PCL (International) Holding BV, the company informed the stock exchange.

Precision Camshafts to buy 51% Stake In Dutch Auto Parts Maker Emoss

Solapur-based auto component manufacturer Precision Camshafts Ltd has confirmed to acquire a 51% stake in Dutch electric driveline maker Emoss Mobile Systems BV for 7.36 million euros (Rs 58 crore or $8.65 million) in cash.

Precision will buy the stake through Dutch unit PCL (International) Holding BV, the company informed the stock exchanges on Friday. It will finance the deal through a combination of bank debt and internal accruals.

the remaining 49% will stay with Emoss’ promoters and remain actively involved in day-to-day activities, Precision said. The deal does not require any government or regulatory approvals.

Shares of Precision declined 0.71% on the BSE on Friday to close at Rs 98.05.

The deal in Emoss marks Precision’s third strategic acquisition in eight months. In March, the company announced the acquisition of a 76% stake in Germany-based precision machinist MFT Motoren und Fahrzeugtechnik GmbH in an all-cash deal for an undisclosed amount.

Last October, the auto component maker had acquired 95% stake in Nashik-based MEMCO Engineering Pvt. Ltd for an undisclosed amount.

sharebtn
Comment
user
email
mobile
address
star
Related opportunities
  • Competitive Exam Coaching Institute
    About Us: Want to start your own institute or coaching? Unite..
    Locations looking for expansion Delhi
    Establishment year 2011
    Franchising Launch Date 2017
    Investment size Rs. 20lac - 30lac
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater New delhi Delhi
  • Water Treatment & Purification Services
    About Us: A Low Risk- High Return Opportunity  PANISA is an exclusive..
    Locations looking for expansion Delhi
    Establishment year 2003
    Franchising Launch Date 2019
    Investment size Rs. 5lac - 10lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Delhi Delhi
  • Quick Service Restaurants
    About Us: Kev’s Café is a renowned brand established in 2001..
    Locations looking for expansion Delhi
    Establishment year 2011
    Franchising Launch Date 2015
    Investment size Rs. 10lac - 20lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • About Us: Exponential learning Pvt. Ltd. is an established institute based..
    Locations looking for expansion Rajasthan
    Establishment year 2016
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 2500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Jaipur Rajasthan
Insta-Subscribe to
Entrepreneur
Magazine
sme-80x109
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
email
mobile
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities