Minda Corporation will acquire 49 per cent equity stake in Flash Electronics for a cash consideration of Rs 1,372 crore, it said.
“This partnership fits perfectly, strategically and financially in the company’s long-term vision of creating value for customers and shareholders,” Minda Corporation Chairman & Group CEO Ashok Minda said.
Both companies have a diversified, yet synergised, product portfolio where Minda Corporation is into automotive body electronics and Flash is in automotive engine and powertrain electronics.
This partnership will create a synergetic and wide portfolio for both partners, Minda Corporation said.
“I am confident that this partnership will catapult both the companies to a different level,” Flash Electronics Managing Director Sanjeev Vasdev said. Among the early entrants in the field of EV powertrains, Flash is a leading player for motors, motor controllers, vehicle control units, etc.
It has developed innovative solutions for the electric powertrain, and would soon launch the same for passenger cars and commercial vehicles.
