MoneyWorks4Me

Kinetic Motors gets nod to merge with Kinetic Engineering

14 Feb 2013 Evaluate

Pune-based Kinetic Motors (KMCL) has received the Bombay High Court’s approval for merger of KMCL with Kinetic Engineering (KEL). The final order will be received within 15 days. The amalgamation intends to consolidate synergies including enhanced financial strength and flexibility leading to strengthening and alignment of various stakeholders’ interest, reduction of cost and value creation for the stake holders.

As a result of the merger, the stake of the promoters in Kinetic Engineering would stand at 53% from a current stake of 57%. The balance of shares will be held by public and financial institutions. 

 

Peers
Company Name CMP
Bajaj Auto 10069.85
TVS Motor Company 4021.45
Hero MotoCorp 5173.00
Eicher Motors 6949.85
OLA Electric Mobilit 37.09
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