Sundaram-Clayton buys 50% extra stake in Sundaram Holding USA

Sundaram-Clayton Ltd. (SCL) introduced that it had moreover acquired 50.05% stake in Sundaram Holding USA Inc. (SHUI) from Sundaram Auto Parts Ltd. (SACL).

Consequent to the above acquisition, SCL’s holding in SHUI elevated to 100% and subsequently SHUI’s subsidiaries in USA – Inexperienced Hills Land Holding LLC, Element Tools Leasing LLC, Sundaram-Clayton USA LLC and Premier Land Holding LLC, have additionally turn out to be subsidiaries of SCL, the agency stated in a regulatory submitting.

In a associated transfer, TVS Motor Firm stated that it had obtained shareholders’ approval by means of postal poll on September 6, to eliminate the complete shareholding held by means of SACL in SHUI to SCL for a complete sum of ₹317 crore.

By- The Hindu

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