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Uno Minda approved the acquisition of an 81.69% stake in Kosei Minda Aluminum Company and a 49.90% stake in Kosei Minda Mould from joint venture partner Kosei, Japan, through a share swap. The enterprise values are around INR 60 crore and INR 11 crore respectively.
Uno Minda Ltd's board approved the acquisition of the remaining 22.6% stake in Minda Kosei Aluminum Wheel Private Ltd from Kosei International Trade and Investment Company Ltd for up to Rs 116 crore, making it a wholly-owned subsidiary.
Kosei has completed the acquisition of AAP St. Marys, a former Hitachi Metals subsidiary in St. Marys, Ohio. The city welcomed Kosei's commitment to the community.