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Mahindra CIE Automotive's board approved the acquisition of 100% equity of Aurangabad Electricals Ltd for an enterprise value of Rs 875.6 crore (including up to Rs 62.2 crore deferred payment). The acquisition is expected to complete on or before April 10, 2019.
Mahindra CIE Automotive's board approved a scheme to merge its wholly owned subsidiary Bill Forge Private Ltd into itself, aiming for operational efficiencies and synergies.