Lumax Auto Technologies signs pact to acquire majority stake in IAC International Automotive India

As part of this deal, 75 per cent of the stake will be bought through SPV (acquisition vehicle) at Rs 440 crore, which will be paid in cash funded by debt and internal accruals, and IAC will continue to hold 25 per cent stake in it, the company said in a release.

from Auto-Industry-Economic Times https://ift.tt/jIfPEyc