JBM Group Buys JV Partner's Stake In TSNA
Auto Component- maker JBM Group has acquired the entire stake in its 50:50 JV - Thai Summit Neel Auto from its partner - Thai Summit Group, according to BS.
Post acquisition, TSNA will be renamed as Neel Auto Private Limited, under the JBM group.
The 50:50 JV, which was incorporated in 2003, supplies automotive components to two wheeler and three wheeler OEM in the country.
JBM Group has over 33 plants at 14 locations under its fold. It has 14 companies which supply to manufacturers like Maruti, Tata Motors, Bajaj, General Motors, Volvo and Ford, among some others. Other auto component companies in its fold include JBM Auto and Jay Bharat Maurti among others.
This January, JBM Goup acquired 51% stake in Italian engineering services company - Tesco Go SPA for about R200Cr through its group entity JBM Cadmium Privatet Limited.
In the space, Nissan Motors was planning to buy a minority stake in its Indian distributor partner Hover Automotive for an undisclosed amount; DSK Group acquired Hyosung superbiking business from Garware Motors; Bajaj Auto acquired additional 6.3% stake in Austria based KTM Power Sports AG, taking its stake to around 47%; Nagpur Automotive Industries acquired 100% in Adhunik Metaliks' forging subsidiary - Neepaz V Forge India for an enterprise value of R230Cr.
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|Neel Auto Private Limited||
Thai Summit Autoparts Industry Co.,Ltd.
Neel Metal Products Limited
|601, Hemkunt Chambers, 89, Nehru Place||www.tsneel.com|
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