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HIM Group To Acquire 55% Stake In Gujarat Automotive Gears Ltd For $3.6 Million-Reuters

Thursday, 11 Jul 2013 06:18pm EDT 

Reuters reported that HIM Group, through its privately held flagship company HIM Teknoforge Ltd and associate firm Globe Precision Industries Pvt Ltd, has entered into a definitive agreement to acquire 55% stake in Vadodara-based Gujarat Automotive Gears Ltd (GAGL) from its promoters for INR21.8 crore (INR218 million). The group has also made an open offer as part of the deal to acquire another 26% stake in the public-listed firm, as per a stock market disclosure. 

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