Amara Raja Batteries Limited, a manufacturer of industrial and automotive batteries, announced on Wednesday that its board of directors had approved the sale and transfer of its new energy business to its wholly owned subsidiary Amara Raja Advance Cell Technologies Pvt Ltd through a slump sale arrangement on a going-concern basis. According to the business transfer agreement, adjustments may have been made to the transaction’s lump sum price of Rs 167.2 crore, ARBL said.
https://timesofindia.indiatimes.com/business/india-business/amara-raja-batteries-to-sell-transfer-new-energy-business-to-wholly-owned-arm-aract-for-rs-167-crore-consideration/articleshow/97331094.cms