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Kalyani Powertrain signs agreement for divestment of stake in JV REFU Drive GmbH
23-Jul-2026, 09:42
Bharat Forge announced that Kalyani Powertrain (KPTL), a wholly owned subsidiary of the Company along with the Company, has executed a Definitive Agreement dated 22 July 2026 with REFU Drive GmbH (REFU), a joint venture Company of KPTL and REFU Elektronik GmbH.
Bharat Forge announced that Kalyani Powertrain (KPTL), a wholly owned subsidiary of the Company along with the Company, has executed a Definitive Agreement dated 22 July 2026 with REFU Drive GmbH (REFU), a joint venture Company of KPTL and REFU Elektronik GmbH.
In terms of the aforesaid Agreement, KPTL has agreed to sell and transfer its entire 50% equity stake, held in REFU to REFU Elektronik GmbH for a consideration of EUR 12,500 (subject to the terms and conditions set out in the Agreement).
Upon completion of the aforesaid transaction, REFU shall cease to be a joint venture of KPTL.