Bharat Forge Ltd acquisition replace concerning Refu Drive GmbH

Bharat Forge Ltd acquisition replace concerning Refu Drive GmbH

by admin- Thursday, September 19th, 2019 05:12:42 PM

 

Bharat Forge Ltd had in advance announced regarding execution of Joint Venture Agreement among the Company and Refu Electronik GmbH, Germany and its Affiliates/ Promoters (“REFU”).

REFU has incorporated a corporation below the legal guidelines of Germany inside the name of Refu Drive GmbH and has fulfilled the conditions as mentioned in the Share Purchase Agreement and Joint Venture Agreement (“Transaction Documents”).

Upon success of the situations as stated inside the Transaction Documents, the Company on September 19, 2019 has invested EUR eleven.35 Million and acquired 50% stake in Refu Drive GmbH.

Shares of BHARAT FORGE LTD. Was ultimate trading in BSE at Rs.394 as compared to the previous close of Rs. 399.Eighty five. The total range of shares traded at some stage in the day turned into 30649 in over 661 trades.

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