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VE Commercial Vehicles divests stake in Eicher Engineering Solutions

VE Commercial Vehicles divests stake in Eicher Engineering Solutions

Saturday, March 18, 2017, 8:55 PM

VE Commercial Vehicles, the 50:50 joint venture between Eicher Motors and the Volvo Group, has divested the entire stake in its US-based subsidiary Segula Technologies for $1.85 million. The company has sold 100% shares in its wholly-owned subsidiary Eicher Engineering Solutions Inc to SegulaTecnologias Espana, VE Commercial Vehicles Ltd said in a statement. The total enterprise value of this deal is $1,852,000, it added.
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