Schaeffler India to acquire Koovers for INR 1.42 billion

Schaeffler India, a subsidiary of Schaeffler AG, has proposed to acquire 100% shareholding of KRSV Innovative Auto Solutions Private Limited (Koovers) from its founders and existing investors for approximately INR 1.42 billion. Koovers provides spare parts solutions to the Indian automotive aftermarket.

“AZB & Partners is advising Schaeffler AG and Schaeffler India on Schaeffler India’s proposed acquisition of 100% shareholding of KRSV Innovative Auto Solutions Private Limited ('Koovers') from its founders and existing investors for a consideration of approximately INR 1.42 billion.”azbpartners.com

• 2 sources
• azbpartners.comSchaeffler AG and Schaeffler India on Schaeffler India’s proposed acquisition of 100% shareholding of KRSV Innovative Auto Solutions Private Limited ('Koovers') - azbAug 29, 2023
• marketscreener.comSchaeffler India Limited completed the acquisition of KRSV Innovative Auto Solutions Private Limited. | MarketScreenerS&P Capital IQSep 7, 2023

Summarized from public sources; check the original articles before acting on it.