TRF has executed a Share Purchase Agreement (SPA) on October 31, 2017 with JL Power Venture (JPL) and Adithya Automotive Applications (AAA), whereby TRF has agreed to sell its entire 51% stake in AAA to JPL, subject to the terms of SPA.
The closing of the transaction is subject to satisfaction of condition precedent as set out in the SPA, including obtaining the shareholders’ approval of TRF. Upon closing of the transaction, AAA shall cease to be a subsidiary of TRF.
TRF is engaged in the production of material handling equipment. The company’s segments include Products & Services, and Projects & Services.