M&A

M&A

Lumax Auto acquires remaining 16% stake in JV with Spain’s FAE

BSE Announcement   Business Line   Lumax Auto Technologies   Lumax FAE  

Publicly listed Lumax Auto Technologies has acquired the remaining 15.97% stake in fellow Gurugram-based Lumax FAE Technologies from Spain-based Francisco Albero SAU (FAE), gaining complete ownership of the company.Lumax FAE is involved in oxygen sensors and ceramic sensing technologies used in engine management and exhaust after-treatment systems. The firm, which was founded as a joint venture, provides technical support, allowing the continued use of its brand name under the new ownership structure.Lumax plans to leverage this acquisition to accelerate the localisation and development of advanced engine management components to meet tightening Indian emission and fuel-efficiency regulations.