Mahindra CIE Automotive has received approval for the acquisition of 100% of the issued and outstanding share capital of Aurangabad Electricals and authorized the signing of a share purchase agreement.
The acquisition is proposed to be completed on or prior to April 10, 2019. The Board of Directors of the company at its meeting held on March 12, 2019, approved the same.
Mahindra CIE Automotive is a multi-technology automotive components supplier listed on the stock exchanges in Mumbai.
