111 Kinetic Engineering sells its Stake in Mahindra for 182 Crores

Kinetic Engineering sells its Stake in Mahindra for 182 Crores

First Published by IANS on 25 Feb, 2014 at 10:48 AM IST under Business

New Delhi:  Kinetic Engineering (KEL) today said it has sold its stake in Mahindra Two Wheelers to private equity investment group Samena Capital for Rs.182 crore.

“Kinetic will receive a consideration of approximately Rs.1,821 million (Rs.182 crore) and after certain committed payments including non-convertible debentures (NCD) repayments, cost of financing the net proceeds would amount to approximately Rs.109.8 crore, which KEL will use for its business operations,” the company said in a statement.

Last Updated on February 25, 2014 at 10:03 AM IST


Latest in this Section
View All News Articles in Business
 

Please Comment. Your opinion matters to us.