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Toyota affiliate paying premium to buy stake in Vardhman Special Steels

By Narinder Kapur

  • 05 Sep 2019
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Toyota affiliate paying premium to buy stake in Vardhman Special Steels
Aichi Steel president Fujioka (left) with Vardhman Special Steels vice chairman Sachit Jain

Aichi Steel Corporation, a Japanese steelmaker and an affiliate of automaker Toyota Motor Corp, has agreed to acquire a minority stake in Vardhman Special Steels Ltd by paying a premium. Aichi will buy an 11.4% stake in the Ludhiana-based company for $7 million (about Rs 50.2 crore), Vardhman said in a ......

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