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| Exchange Disseminated Time 05/02/2016 13:49:06 | Bosch Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 05, 2015, has approved in principle, the transfer by way of sale, of the Starter Motors and Generators business of the Company (SG-IN) to a subsidiary (which is being incorporated) of Robert Bosch Starter Motors Generators Holding GmbH. The Board of Directors of the Company has approved the sale of SG-IN business as a “going concern” on a slump sale basis for a consideration of Rs. 4,862 million. In case the global SG transaction gets executed within the next 18 months and results in a higher implicit price for SG-IN, there will be an additional contingent consideration payable to the Company.
The proposed sale, being a related party transaction under section 188 of the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, is subject to approval of the shareholders. The said transaction is also subject to requisite approvals from statutory and regulatory authorities, if any. |
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