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25 March, 2017 07:24 IST
Eicher Motors arm divests 100% stake in Eicher Engg Solutions
Source: IRIS | 20 Mar, 2017, 10.20AM
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Eicher Motors' subsidiary , VE Commercial Vehicles (VECV), has sold its entire stake in its subsidiary Eicher Engineering Solutions, Inc. to Segula Tecnologias Espana on March 17, 2017. The total enterprise value of this deal is USD 1,852,000.

Commenting on this divestment, Vinod Aggarwal, MD & CEO VE Commercial Vehicles said, ''This divestment is part of VECV's focused plans towards driving modernization in commercial transportation in India and the developing world. Our immediate business outlook continues to remain positive and we are on track with all our strategic plans and initiatives.''

Shares of the company gained Rs 138.1, or 0.56%, to trade at Rs 24,739.85. The total volume of shares traded was 404 at the BSE (10.11 a.m., Monday).



Eicher Motors Limited   (Q,N,C,F)*

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