Minda Industries Ltd. has acquired 4,48,162 equity shares i.e. 5.24% stake in FRIWO AG, Germany, by investing Euro 14.99 million. The investment has been made in the aforesaid company, after obtaining the requisite approvals including Reserve Bank of India (“RBI”) under Overseas Direct Investment (“ODI”) guidelines.
FRIWO AG, Germany is a innovative system providers of intelligent power supply and drive solutions. Objects and effects of acquisition is to strengthen the partnership with FRIWO AG via primary equity infusion.
FRIWO AG, a public listed company duly organized and existing under the laws of Germany, having its principal place of business at Von-Liebig-StraBe 11, 48346 Ostbevern, Germany. FRIWO AG is engaged in the business of designing, development, manufacturing, inter alia, power supply, chargers, motor control units and other products for various sectors and geographies. Year of incorporation: 1967
- Turnover (Console) of last three years (Million in Euro):
- 31.12.2020: 99.4 million Euro
- 31.12.2019: 95.8 million Euro
- 31.12.2018: 120.53 million Euro