Rane (Madras) to Acquire Friction Business of Hindustan Composites
Chennai, India, JULY 1: Rane (Madras) Limited (RML), today entered into an agreement with Hindustan Composites Limited (HCL) to acquire the Friction Business, as going concern, on slump sale basis for an enterprise value of INR 370 Crore (Rupees Three hundred and seventy crore), subject to the terms of the Agreement. HCL’s Friction Business is…