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Bharat Forge Unit Sells 50% Stake in REFU Drive to End JV

Bharat Forge logoBharat Forge
Sig2.68Sen+2.70Env0.00Soc0.00Gov+0.20

Kalyani Powertrain, a wholly owned Bharat Forge subsidiary, completed the sale of its entire 50% equity stake in REFU Drive GmbH to REFU Elektronik GmbH for a final cash consideration of EUR 12,500. The deal terminates the joint venture and removes a negative net worth of EUR 3.23 million from Kalyani Powertrain, supporting portfolio simplification and focus on in-house EV technology.

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