Rico Auto Industries to exit JV

To sell entire stake in FCC RICO for Rs 495 crore

Rico Auto Industries announced that by way of resolution passed by circulation, the Board of Directors of the Company on 25 September 2014 has approved the divestment of the entire 50% stake of the Company in FCC RICO, the joint venture between the Company and FCC Co., Japan, to FCC Co., Japan or its affiliates, a FCC Group Company for gross consideration of Rs. 495 crore.

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