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Rane (Madras), India to acquire Hindustan Composites' friction business for INR 3.7 billion
On June 30, Rane (Madras) Limited signed a business transfer agreement with Hindustan Composites Limited (HCL) to acquire HCL's friction business as a going concern on a slump sale basis for a lump sum consideration of INR 3.7 billion on a cash-free, debt-free basis. The acquisition includes all assets, liabilities, ....
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