Rane sheds stake in SasMos
Rane Holdings Ltd, the holding company of the Rane Group, has divested the entire 45.26% equity stake in SasMos HET Technologies Limited (SasMos). This would enable RHL to unlock value in its investment made into SasMos, an unlisted associate company of RHL.
This decision, approved by the RHL board of directors, to streamline and consolidate investments in the automotive, aerospace and defence sectors, is in alignment with the Rane Group vision. In August 2011, RHL in its move to diversify into aerospace and defence sectors, acquired 26% equity stake in SasMos, a manufacturer of wiring harnesses and electrical interconnection systems for aerospace, defence and marine industry. RHL further increased its stake to 45.26% in November 2014.
L Ganesh, Chairman Rane Group, said, “SasMos has been a rewarding investment and the Group will continue to seek out investment opportunities in the aerospace sector.” RHL and the promoters of SasMos are in discussion to conclude the terms of the sale and the transaction is subject to regulatory approvals and other closing conditions. Through its group companies, Rane manufactures Steering and Suspension systems, Friction materials, Valve train components, Occupant safety systems and Die-casting products.
Its products serve a variety of industry segments including passenger and commercial vehicles, farm tractors, twoand three-wheelers, Railways and stationery engines.