Varroc Engineering’s arm acquires balance 30% stake in Varroc Elba

Varroc Engineering Ltd. | Auto Ancillary | Automobiles | BSE: 541578 | NSE: VARROC

10 Dec 2020 Evaluate

Varroc Engineering’s wholly-owned subsidiary-- VarrocCorp Holding B.V., the Netherlands (VCHBV) has acquired balance 30% stake i.e. 60,000 equity shares of Varroc-Elba Electronics S.R.L (Varroc Elba) held by the other JV Partner, ELBA SA, Romania for an aggregate consideration of Euro 1.05M. Pursuant to the aforesaid acquisition, Varroc Elba has become a wholly owned subsidiary of VCHBV and in turn a step-down subsidiary of the company.

Varroc Engineering is a global tier-1 automotive component group, ranked 124th in the 2019 Fortune India 500 list.

Peers

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SamvardhanaMotherson	164.00
Tube Investments	2596.20
Bosch	48200.00
UNO Minda	1226.45
Bombay Burmah Trdg.	1484.80
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