Pricol to acquire 99.99% stake in Brazil based auto component manufacturing company

12 Dec 2014 Evaluate

Pricol has received an approval to acquire 99.99% of stake in a Brazil based auto component manufacturing company through its wholly owned subsidiary incorporated in Spain. The board of directors at their meeting held on December 11, 2014 has approved for the same. The aforesaid company in Brazil achieved sales revenue of Rs 301.10 crore during the calendar year 2013.

This acquisition will enable the company to make a foray into the Brazilian Auto Component Industry. The aforesaid acquisition is expected to be completed by the end of January 2015.

Pricol is engaged in the manufacture and export of a complete range of automotive components starting from instrument clusters, dashboard meters, fuel sensors, oil pressure switches, speedometer drive cables, fuel cut off valve, filter suction, etc.

Peers
Company Name CMP
SamvardhanaMotherson 180.85
TVS Holdings 12337.85
Bosch 34920.00
UNO Minda 984.00
Endurance Tech 2376.95
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