India, July 22 -- Gabriel India Ltd has announced transactions worth over Rs. 3,165 crore, including the acquisition of its promoter's stake in its joint venture with South Korea's HL Mando Corporation, according to a regulatory filing.
As part of the first transaction, the auto components manufacturer will acquire a 28.99% stake in HL Mando Anand India Pvt. Ltd. from its promoter and holding company, Asia Investments Pvt. Ltd. (AIPL), for a composite consideration of Rs. 2,231 crore. The deal includes a cash payment of Rs. 350 crore, while the remaining consideration will be settled through the preferential allotment of equity shares.
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