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28. January 2015

IN / GER - Amtek restructures operations of one of its German subsidiary Amtek Kuepper GmBH sells its entire stake in Kuepper group of companies to Amtek Technologies Deutschland GmBH in lieu of 21.5% stake in the firm

Amtek Kuepper GmBH, a German subsidiary of Amtek India Ltd, has sold its entire stake in Kuepper group of companies to Amtek Technologies Deutschland GmBH, a subsidiary of Amtek Global Technologies (AGT), in lieu of 21.5% stake in the company, Amtek said in a statement to BSE.

After the transaction, equity stake of AGT is jointly held by Amtek Auto Ltd (78.5%), and Amtek Kuepper GmbH (21.5%). The Delhi-based manufacturer of auto parts is a supplier to two-wheeler, car and truck manufacturers.

Amtek India, which has been acquiring firms as part of its growth strategy in India and abroad, bought the Kuepper group of companies for an undisclosed amount through its subsidiary Amtek Kuepper GmBH in March last year.

Source: livemint.com

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