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India's Uno Minda to buy stake in Minda Kosei Aluminum Wheel

Uno Minda of India will acquire the remaining 22.65% stake in Minda Kosei Aluminum Wheel.

India's Uno Minda to buy stake in Minda Kosei Aluminum Wheel

UNO Minda Ltd, the world's leading automotive component supplier in India, formerly known as Minda Industries Ltd, said its board of directors approved the purchase of the remaining 22.65% stake of Minda Kosei Aluminum Wheel Pvt Ltd (MCA) from Kosei International Trade and Investment Company Ltd (KIT) for Rs 115.50.

MKA is one of the leading companies in India that develops, manufactures and sells aluminum alloy wheels for major OE car manufacturers and aftermarket in India.

The acquisition is expected to be completed by the end of March this year. After the acquisition, Uno Minda will own the entire MKA.

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