Corporate News 23-May-22
Board of Schaeffler India approves sale of chain drive business
At meeting held on 23 May 2022
The Board of Schaeffler India at its meeting held on 23 May 2022 has approved the sale of chain drive business undertaking of the Company as a going concern on a slump sale basis to CATENSYS India (CIPL)for a lumpsum cash consideration of approx. Rs 27.4 crore. The final consideration is subject to the adjustments as on the date of sale as per the terms of Business Transfer Agreement to be executed
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