On Monday, Japanese joint venture partner Kosei said that its board had authorised the acquisition of 81.69 percent of Kosei Minda Aluminium and a 49.90 percent share in Kosei Minda Mould by Uno Minda Ltd, a manufacturer of auto components. According to a statement from Uno Minda, the action will benefit in the company's 4W alloy business consolidation.
The combination with Uno Minda Ltd through a share exchange is intended as the primary method of acquisition.
Uno Minda will begin running these two firms' businesses and operations on April 1 of this year, the corporation claims, even though the merger will be subject to several legal requirements.
In order to maintain technical support, the business said it will also engage into a technical licence agreement with Kosei Japan for a duration of ten years, which will be renewed further with the approval of the parties.
