Amara Raja Batteries has terminated the shareholder agreements between Galla Family, Johnson Controls (Mauritius) and Johnson Controls Battery Group with effect from April 01, 2019.
In the month of November 2018, Johnson Controls International PLC announced its intention to sell its Power Solution business. Consequently, JC and the Galla Family reached an agreement by which Galla Family would acquire 2 percent equity shares of the company from JC and terminate the shareholders agreement with effect from April 01, 2019.
Amara Raja Batteries is the flagship company of the group and is engaged in manufacturing of industrial and automotive batteries. The company was first to introduce Valve Regulated Lead Acid (VRLA) batteries with three-year warranty in industrial and automotive applications.
