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Rane Holdings gets nod to divest stake in Rane TRW Steering Systems

29 Dec 2021 Evaluate

Rane Holdings has received approval from board of directors to divest 87,383 equity shares representing 1% of the total shareholding of Rane TRW Steering Systems (RTSS/JV) to ZF Automotive JV LLC, USA (ZF). Currently, RTSS is a 50:50 joint venture between the Company and ZF. Pursuant to this divestment, the Company will hold 49% and ZF will hold the remaining 51% shareholding in the JV.

The Joint Venture agreement is being suitably amended to reflect the changes due to the aforementioned divestment. The consideration received from such sale/disposal will be Rs 20.16 crore.

Rane Holdings is the holding company of the Rane Group.

Peers
Company Name CMP
Bajaj Finserv 1729.90
TVS Holdings 11885.75
Cholamandalam Fin. 1371.35
Altius Telecom Infra 179.00
Kama Holdings 2259.85
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