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    HomeNewsBusinessMergers & AcquisitionsSiemens completes acquisition of Mass-Tech Controls Private's EV business for Rs 38 cr

    Siemens completes acquisition of Mass-Tech Controls Private's EV business for Rs 38 cr

    Siemens is a technology company focused on industry, infrastructure, transport as well as transmission and generation of electrical power.

    PTI
    July 01, 2023 / 20:41 IST

    Siemens Limited on Saturday said it has completed the acquisition of the electric vehicle division of Mass-Tech Controls Private Ltd for Rs 38 crore.

    Siemens is a technology company focused on industry, infrastructure, transport as well as transmission and generation of electrical power.

    In a regulatory filing, the company said it "has completed the acquisition of EV division of Mass-Tech Controls in accordance with the definitive agreements entered between the parties for a consideration of Rs 380 million, which is subject to adjustments mutually agreed between the parties to the transaction".

    PTI
    first published: Jul 1, 2023 08:41 pm

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