TRF in share purchase agreement with JL Power for stake sale in Adithya Automotive

| Updated on January 09, 2018

TRF has executed a share purchase agreement with JL Power Ventures to sell its 51 per cent stake in Adithya Automotive Applications Pvt Ltd (AAA), a material subsidiary of TRF. According to the deal, the company will receive ₹30.6 crore for the stake and earn an additional earn-out payment to be determined by definitive agreements upon calculation of EBITDA for FY2017-18 of AAA. JL Power is an existing shareholder of AAA. The stock of TRF closed at ₹245.60, up 1.8 per cent on the NSE.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on October 31, 2017
This article is closed for comments.
Please Email the Editor