Uno Minda’s Board has approved acquisition of 81.69% stake in Kosei Minda Aluminum Company (KMA) and 49.90% stake in Kosei Minda Mould (KMM) from joint venture partner Kosei, Japan (Kosei). The acquisition is planned through composite scheme of merger with Uno Minda through swap of shares. The enterprise value of KMA and KMM considered for the purpose the transaction is around Rs 60 crore and Rs 11 crore respectively.
While merger will be subject to various statutory authorities, Uno Minda will start managing the business and operations of these two entities with effect from April 1, 2023. The company will also be entering into Technical license agreement with Kosei Japan for 10 years and shall be renewed thereafter with mutual consent of the Parties, to ensure continuity of technical support.
Uno Minda (formerly known as Minda Industries) offers a range of products across various verticals of auto components, such as switching systems, acoustic systems and alloy wheels, among others.