Italy-based auto components maker Streparava Holding SPA has acquired the remaining 51 per cent stake owned by Sansera Engineering Pvt Ltd in the JV firm Sansera Streparava Engineering Pvt Ltd for an undisclosed amount. With this acquisition, Sansera Streparava has become a wholly owned subsidiary of Streparava and will be renamed as Streparava Engineering Pvt Ltd.
“Streparava is committed to strengthen its presence in India beyond the current range of products manufactured in the Bangalore facility and eyeing other areas such as drive line and chassis components, in which Streparava is a market leader,” a spokesperson of Streparava said.
Tecnova India Pvt Ltd, a Delhi-based consulting company, advised Streparava Holding on the deal.
Founded in 1951, Streparava manufactures auto components and makes rocker arms, chassis components, bearing cups, valve bridges and other power train components for the commercial vehicle industry. The firm also has presence in Brazil, Spain and China.
The deal comes after Citigroup Venture Capital International (CVCI) invested $56 million in Sansera Engineering earlier this month. Streparava, which picked up stake in Sansera Engineering in 2006, exited by selling its 3 per cent stake.
(Edited by Sanghamitra Mandal)