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Kinetic sells its stake in Mahindra Two Wheelers

New Delhi:  Kinetic Engineering (KEL) Monday said it has sold its stake in Mahindra Two Wheelers to private equity investment group Samena Capital for Rs.182 crore.“Kinetic will receive a consideration of approximately Rs.1,821 million (Rs.182

IANS [ Updated: February 24, 2014 18:42 IST ]
kinetic sells its stake in mahindra two wheelers
kinetic sells its stake in mahindra two wheelers

New Delhi:  Kinetic Engineering (KEL) Monday said it has sold its stake in Mahindra Two Wheelers to private equity investment group Samena Capital for Rs.182 crore.


“Kinetic will receive a consideration of approximately Rs.1,821 million (Rs.182 crore) and after certain committed payments including non-convertible debentures (NCD) repayments, cost of financing the net proceeds would amount to approximately Rs.109.8 crore, which KEL will use for its business operations,” the company said in a statement.

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