M&A

M&A

Autocomp maker Gabriel India to acquire stakes in 2 firms for Rs.3,166-Cr

BSE Announcement   Business Line  

Publicly listed, Pune-based Gabriel India is to acquire a 28.9% stake in HL Mando Anand India, a joint venture between South Korea's HL Mando Corporation and Gabriel's promoter group entity, Asia Investments Pvt Ltd (AIPL), for about INR 2,231 crore. Of this, roughly INR 1,881 crore will be settled through a preferential allotment of Gabriel shares to AIPL, while the remaining INR 350 crore will be paid in cash. The deal values HL Mando Anand at an equity value of about INR 7,695 crore.The second transaction involves acquiring a 29.99% stake in HL Klemove India, a subsidiary of South Korea's HL Klemove Corporation that manufactures ADAS systems and automotive electronics, for approximately INR 935 crore in cash. This acquisition will be funded through a combination of internal accruals and debt.JM Financial is the exclusive financial advisor to Gabriel India on the transactions.