Stocks In News - Acquisitions
- Bharat Forge acquired stake in UK based company.
- The company has entered into an investment agreement with Tevva Motor, Bharat Forge International, UK and existing shareholders of Tevva.
- Pursuant to agreement, the company has acquired 34.53% and Bharat Forge International, UK, a wholly owned subsidiary of company has acquired 0.73% stake in Tevva, aggregating to combined stake of 35.26%.
- Tevva provides electric powertrain solutions for commercial vehicles & buses in the 7.5 - 14 T weight category.
- This is soon to be extended for the development of new commercial vehicles, especially trucks and buses.
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