Bharat Forge exits JV with GE
Bharat Forge has completely divested from the power equipment JV with GE
Bharat Forge has completed its divestment from the former joint venture with French multinational Alstom.
The Indian component major announced completion of the sale of balance equity of 26 percent in the power equipment JV to GE. With this, the company has completed the divestment of its shareholding in Alstom Bharat Forge Power Pvt Ltd (ABFPL) to GE.
The agreement for sale was implemented on November 8, 2016 and the sale was completed today. The sale was worth $35 million (roughly Rs 227 crore) on March 24, 2017.
RELATED ARTICLES
Tata Elxsi-Renesas MCU for EVs enables cost optimisation, speedier time to market
Modular, scalable design of Motor Control Unit enables integration across diverse EV applications. Claimed to be reduce ...
Bosch hydrogen engine tech-powered truck to be on Indian roads this year
The global supplier of technology and services is betting big on both electromobility and hydrogen. While announcing the...
IIT Bombay inaugurates Arun Firodia Research Floor
IIT Bombay, one of India’s top technical and research institutions, honours Kinetic Group chairman Dr Arun Firodia, one ...