Minda Industries (MIL) has entered into definitive agreement with Shareholders of Germany based Automotive Lamps engineering, design company & testing, Delvis Gmbh, to acquire 100% interest in the company. The enterprise value of the company along with its two subsidiaries Delvis Solution and Delvis Products is around Euro 21 million, subject to adjustments, if any, at closing. The transaction is subject to customary closing conditions and other regulatory approvals. The transaction is expected to be concluded in next two months. The transaction will be funded by mix of debt and equity.
Minda Industries offers a range of products across various verticals of auto components, such as switching systems, acoustic systems and alloy wheels, among others.