Minda Industries forays in Uzbekistan, to gather 51% stake in UzChasys by admin- Wednesday, June 23rd, 2021 03:52:15 PM
Minda Industries gained bid to collect of fifty one% stake in leading automotive lighting manufacture UZ Chasys LLC (UZ Chasys) in Uzbekistan for a purchase consideration of 83.1 Bn Sams equivalent to Rs. Fifty eight crore.
Uzbekistan government is moving toward liberalization of economic system and divesting their stake is some of the authorities controlled entities. As part of this process, Uzbekistan Government is divesting their fifty one% stake in UZ Chasys via auction technique.
UzChasys focus on production of vehicle headlights and lamps and is a leading Supplier to OEM’s in Uzbekistan and has widespread exports. Uzbekistan automobile market is anticipated to grow considerably in coming years together with creation of recent models that allows you to gain UZ Chasys. The acquisition will similarly extend the enterprise’s geographical footprints.