Sona Koyo Steering Systems, an auto component major has sold its entire holding of 4,929,636 numbers of equity shares of Euro 1 each of Fuji Autotech Europe S.A.S. at a total consideration of Euro 7.75 million to Fuji Kiko Europe S.A.S.
Fuji Autotech Europe S.A.S. was formed as a Joint Venture Company (JVC) between Sona Koyo Steering Systems and Fuji Kiko Company, Japan.
Sona Koyo Steering Systems started operations as a supplier of steering systems to Maruti Suzuki India (MSIL), in technical and financial collaboration with JTEKT Corporation (Japan) along with equity participation by MSIL.
