Siemens Limited completes acquisition of Electric Vehicle division

Siemens Limited has today completed the acquisition of Electric Vehicle division of Mass-Tech Controls Private Limited in accordance with the definitive agreements entered between the parties for a consideration of INR 380 million (Indian Rupees Three Hundred Eighty million) which is subject to adjustments mutually agreed between the parties to the transaction.

Shares of Siemens Limited was last trading in BSE at Rs. 3766.20 as compared to the previous close of Rs. 3756.40. The total number of shares traded during the day was 2894 in over 669 trades.

The stock hit an intraday high of Rs. 3774.80 and intraday low of 3728.00. The net turnover during the day was Rs. 10863529.00.

Source : Equity Bulls

Keywords

Siemens INE003A01024 Acquisition Complete ElectricVehicleDivision MassTechControls