The board of Indian auto parts maker Amtek Auto has approved the acquisition of Amtek Siccardi (India) Ltd. and a further 89.4% in Benda Amtek.
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Amtek’s share in Benda Amtek, a joint venture with Japan’s Benda Kogyo Company, will now rise to 96.63% and Amtek will also allot 5.3m shares at INR310 each to its founders, Reuters reported, citing a company notice to the stock exchange.
