Sona Autocomp Holding has entered into an agreement, with its long standing technical and financial collaborator JTEKT Corporation, to sell its entire stake in Sona Koyo Steering Systems (SKSSL). The total consideration would aggregate to Rs 4,192.83 million at a price of Rs 84.00 per share for 49,914,664 shares representing 25.12 per cent stake in SKSSL.
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Last updated: March 20, 2024
by
Jacob Silverman
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Alex Morrell
Alex Morrell is a senior correspondent at Business Insider covering Wall Street at large.
Sunjay J Kapur and Sona Group nominee directors, Rani Kapur and Kiran Deshmukh, will step down from the Board of SKSSL upon closure of the transaction.
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