Lumax Auto Completes Acquisition of Remaining 25% Stake in IAC International

MT Newswires Live

05-23

Auto components manufacturer Lumax Auto Technologies (NSE:LUMAXTECH, BOM:532796) has completed the acquisition of the remaining 25% shareholding it did not already own in IAC International Automotive India, according to a Thursday filing to the Indian stock exchanges.

As a result, IAC India has become a wholly-owned subsidiary of the company.

Earlier in the month, the company agreed to acquire the remaining 25% stake in IAC India for 2.21 billion rupees from IACG Holdings LUX SARL.

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