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Outcome of board meeting of Wheels India

Capital Market 

Held on 16 June 2017

announced that the Board of Directors of the Company at its meeting held on 16 June 2017 has approved and agreements have been entered into for (a) the slump sale of its passenger car steel wheels business undertaken at Padi, Tamil Nadu and Bawal, Haryana to WIL Car Wheels, its wholly owned subsidiary; and (b) the subsequent investment by Topy Industries, Japan into WCWL pursuant to which Topy shall acquire a 26% stake in WCWL.

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(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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Outcome of board meeting of Wheels India

Held on 16 June 2017

Held on 16 June 2017

announced that the Board of Directors of the Company at its meeting held on 16 June 2017 has approved and agreements have been entered into for (a) the slump sale of its passenger car steel wheels business undertaken at Padi, Tamil Nadu and Bawal, Haryana to WIL Car Wheels, its wholly owned subsidiary; and (b) the subsequent investment by Topy Industries, Japan into WCWL pursuant to which Topy shall acquire a 26% stake in WCWL.

Powered by Capital Market - Live News

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Outcome of board meeting of Wheels India

Held on 16 June 2017

announced that the Board of Directors of the Company at its meeting held on 16 June 2017 has approved and agreements have been entered into for (a) the slump sale of its passenger car steel wheels business undertaken at Padi, Tamil Nadu and Bawal, Haryana to WIL Car Wheels, its wholly owned subsidiary; and (b) the subsequent investment by Topy Industries, Japan into WCWL pursuant to which Topy shall acquire a 26% stake in WCWL.

Powered by Capital Market - Live News

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

image
Business Standard
177 22