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Z F Steering Gear (India) sells its stake in Robert Bosch Automotive Steering

Capital Market 

For consideration of Rs 62.50 cr

Z F Steering Gear (India) has sold and transferred the 12,93,50,000 equity shares of Robert Bosch Automotive Steering to Robert Bosch Automotive Steering GmbH, Germany, as per the Agreement dated 28 May, 2019 and received the consideration of Rs.62.50 crore.

Simultaneously, Dinesh Munot, the director, nominated by the Company, on the Board of Directors of Robert Bosch Automotive Steering, resigned from the Directorship of that company, as agreed.

With this transaction, Robert Bosch Automotive Steering ceases to be an "associate company" of the Company.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, July 24 2019. 18:33 IST