Shanthi Gears

Murugappa Group to buy 44.12% promoter stake in Shanthi Gears for $53.3M

16 July, 2012

Murugappa Group’s flagship company, Tube Investments of India Ltd (TII), engaged in diversified operations such as auto-ancillary products, bicycle retailing, financial services and insurance, will buy 44.12 per cent promoter stake in Coimbatore-based power transmission components manufacturer, Shanthi Gears Limited (SGL) for Rs 292.01 crore ($53.28 million) in an all cash deal.


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Murugappa Group to buy 44.12% promoter stake in Shanthi Gears for $53.3M

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