M&A

M&A

Rane Holdings buys 51% stake from Japanese partner NSK in JV for Rs.45-Cr

BSE Disclosure  

Chennai-based, publicly listed Rane Holdings Ltd (RHL) is to acquire 51% stake from the joint venture partner NSK Ltd in Rane NSK Steering Systems Pvt Ltd (RNSS) for INR 45 crore. Rane Holdings Ltd already holds 49% of share capital in RNSS.Post-acquisition, RNSS will become a wholly-owned subsidiary of RHL. It will be renamed as Rane Steering Systems Pvt Ltd (RSSL). RSSL will continue the existing technology licence and supply agreements with NSK Steering & Control, Inc.