Bharat Forge updates on restructuring of European subsidiaries

Bharat Forge Global Holding GmbH to act as holding company

Bharat Forge announced that with a view to streamline the operations of European subsidiaries of the Company, CDP Bharat Forge GmbH, Germany, a direct subsidiary of the Company in Germany has undertaken a corporate reorganisation along with its subsidiaries. Such restructuring will facilitate fiscal consolidation, tax consolidation, efficient management and reduction in cost of compliances. This restructuring will not have any adverse impact on the consolidated financials of the company.

In the first phase of reorganisation, the manufacturing operations of CDP Bharat Forge have been transferred to a new subsidiary in Germany viz. Bharat Forge CDP GmbH, CDP Bharat Forge has been renamed as Bharat Forge Global Holding GmbH and this entity will continue to serve as the holding company for the Company's investments in Europe.

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