Bharat Forge has informed that in terms of the powers delegated by the Board of Directors of the Company in its meeting held on November 08, 2016, members of Finance & Risk Management Committee of the Company in its meeting held and concluded on November 18, 2016, have accorded their approval for acquisition of Walker Forge Tennessee LLC, USA along with PMT Holding Inc., USA through its wholly owned subsidiary Bharat Forge America Inc., USA for a total consideration of $14 Million, This acquisition shall consummate on completion of certain conditions precedent as set forth in the Equity Purchase Agreement.
The above information is a part of company’s filings submitted to BSE.
