Sona Autocomp sells its stake in Sona Koyo to JTEKT Corp

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.

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.