TOKYO: Auto component firm Pricol said it has divested its 49 per cent stake in the joint venture with Denso Corporation to the Japanese partner for Rs 20 crore.
Pricol Ltd sold its 49 per cent of shareholding in Denso Pricol India Pvt Ltd to Denso Corporation, Japan for a consideration of Rs 200 million,” Pricol Ltd said in a filing to the BSE.
Subsequent to the aforesaid sale, Denso Pricol India has become the wholly-owned subsidiary of Denso Corporation, Japan, it added.
The company further said Denso Corporation does not belong to promoter/promoter group/group companies of Pricol Ltd.
Pricol shares closed at Rs 32.80 apiece on the BSE, up 3.14 per cent from previous close.
