Rane sheds stake in SasMos

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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.

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