Greaves Cotton has received Board of Directors’ in-principle approval with respect to the acquisition of 18.77% stake in one its subsidiary companies i.e. Ampere Vehicles, India (Ampere) through secondary purchase for a total consideration not exceeding Rs 60 crore, subject to execution of the definitive agreements and customary closing conditions.
Pursuant to the completion of the aforesaid acquisition, Ampere will become a wholly owned subsidiary of the Company.
Greaves Cotton, a multi-product, multi-locational company is one of the leading engineering companies in India with core competencies in diesel/petrol engines, farm equipment and Gensets.
