 "Siemens acquires Mass-Tech Controls Private's EV division for Rs 38 cr")
Siemens Limited on Saturday said it has completed the acquisition of the electric vehicle division of Mass-Tech Controls Private Ltd for Rs 38 crore.
Siemens is a technology company focused on industry, infrastructure, transport as well as transmission and generation of electrical power.
In a regulatory filing, the company said it "has completed the acquisition of EV division of Mass-Tech Controls in accordance with the definitive agreements entered between the parties for a consideration of Rs 380 million, which is subject to adjustments mutually agreed between the parties to the transaction".
(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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