Board of Mahindra CIE Automotive approves acquisition of Aurangabad Electricals

At meeting held on 12 March 2019

The Board of Mahindra CIE Automotive at its meeting held on 12 March 2019 has approved the acquisition of 100% of the issued and outstanding share capital of Aurangabad Electricals for an enterprise value of Rs 875.6 crore which includes a future deferred payment estimated upto Rs 62.2 crore.

This acquisition helps the company to enter the aluminum die casting technology space.

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