Uno Minda to acquire stake in Kosei Minda Aluminium

23 Mar 2023 CW Team

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.

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