Greaves Cotton, an engineering company and part of the Thapar Group has acquired 100% stake in Bukh-Farymann, a German firm through its wholly-owned subsidiary Greaves Cotton Netherlands BV for an enterprise value of approximately of €4.24 mn. Bukh-Farymann is a profit making company and engaged in the manufacture and marketing of Farymann diesel engines and components. The German subsidiary was incorporated recently. The acquisition includes existing debt of approximately €1.59 mn. Greaves expects the acquisition to facilitate its global plans and also boost export initiatives.
Read the Business Standard article.
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