The Proposed Combination envisages acquisition of 100% share capital (on a fully diluted basis) of Sunbeam Lightweighting Solutions Private Limited (Target) by Craftsman Automation Limited (Acquirer).
The Acquirer is a public listed company incorporated in India with diversified operations in powertrain, aluminium products and industrial & engineering segments.
The Target, a wholly owned subsidiary of Kedaara Capital Fund II LLP, is a private company incorporated in India. The Target has operations in the automotive aluminium die-casting industry, with a focus on aluminium auto-components for two-wheelers and passenger vehicles.
Detailed order of the Commission will follow.