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JTEKT Corporation acquired Sona Autocomp Holding Limited's 25.12 percent stake in Sona Koyo Steering Systems Limited for about Rs 419.28 crores.
India's Competition Commission approved JTEKT's proposal to acquire a 25.12% equity stake in its Indian joint venture Sona Koyo Steering Systems Ltd.
JTEKT Corporation plans to buy Sona group's 25% stake in Sona Koyo Steering Systems for INR5.75-6.25 billion (USD84-92 million).
JTEKT reached an agreement to buy out Sona Autocomp Holdings' 25.12% stake in Sona Koyo Steering Systems for USD 62 million, as disclosed in a regulatory filing on February 1, 2017.