Mumbai: Force Motors will acquire MAN Trucks India’s plant at Pithampur, Madhya Pradesh.
“This arrangement is being recorded by binding agreements. The arrangement would be subject to receipt of necessary approvals,” the company said in a BSE filing on Thursday.
“It is expected that the actual transfer is to occur…by end October 2018 or as may be agreed between the company and MAN Trucks India Pvt Ltd.”
According to the BSE filing, the company’s board at its meeting held on Thursday accepted the proposal received from MAN Trucks India “in respect of sale and transfer of certain assets, being immovable properties, movable properties and other assets of intangible nature, situated and being used by MAN Trucks India Pvt Ltd, at its plant at Pithampur District Dhar, Madhya Pradesh”.