Denso India has received an approval to sell its small motors business to Denso Haryana. The sale will involve transfer of all assets (tangible and intangible), employees etc., of small motors business. The cash consideration for sale of small motors business is Rs 147.70 crore.
Further, the sale is conditional upon company’s shareholders approval and other customary closing conditions. The notice of the shareholder postal ballot, draft resolutions and an explanatory statement will be sent to company’s shareholders in due course.
Recently, Denso India’s board had decided to re-align / restructure the business segments to address operational and economic constraints and to focus on areas of future growth. The board at its meeting held on October 04, 2011 had examined and decided the alternatives in order to improve the profitability of the company.
Denso India is engaged in the manufacturing and supply of electrical automotive components. The company provides its services to cater the needs of the Original Equipment Manufacturers (OEMs). The company's principal products include magneto, capacitor discharge ignition (CDI), alternator, starter, fan / blower motor and wiper.
| Company Name | CMP |
|---|---|
| SamvardhanaMotherson | 131.95 |
| Tube Investments | 3048.15 |
| Bosch | 38138.45 |
| UNO Minda | 1178.05 |
| CIE Automotive India | 474.85 |
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