Board of Rane Holdings approves divestment of 1% stake in JV Rane TRW Steering Systems
At meeting held on 29 December 2021
The Board of Rane Holdings at its meeting held on 29 December 2021 has approved the divestment of 87,383 (nos.) equity shares representing 1% of the total shareholding of Rane TRW Steering Systems (RTSS/JV) to ZF Automotive JV LLC, USA (ZF).Currently, RTSS is a 50:50 joint venture between the Company and ZF. Pursuant to this divestment, the Company will hold 49% and ZF will hold the remaining 51% shareholding in the JV.
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