NEW DELHI:
VE Commercial Vehicles Limited has divested 100% shares of Eicher Engineering Solutions Inc. (wholly owned subsidiary of VECV) in United States of America (USA) to SegulaTecnologias Espana, S.A.
U., a Spanish corporation. The total enterprise value of this deal is $1,852,000 (One million eight hundred fifty two thousand US dollars) Commenting on this divestment, Vinod Aggarwal, MD & CEO VE Commercial Vehicles said.
“This divestment is part of VECV’s focused plans towards driving modernization in commercial
transportation in India and the developing world. Our immediate business outlook continues to remain positive and we are on track with all our strategic plans and initiatives.”
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