Amtek Auto to Sell UK Assets to Liberty Group | CORPORATE ETHOS

Amtek Auto to Sell UK Assets to Liberty Group

By: | July 22, 2017

July 22: Amtek Global Technologies Pte Ltd, a subsidiary of India’s leading integrated automotive component manufacturer Amtek Auto Ltd, has entered into an arrangement to sell its UK-based subsidiaries’ plants to Britain-based Liberty House Group.

Liberty House is an international metals and industrial group. However, the company did not disclose details of the deal.

In July last year, debt-ridden Amtek Auto had said that the company is considering various means to de-leverage the balance sheet by selling of non-core business, minority stake in its overseas companies and sale of industrial real estate assets within the group business.

Based in New Delhi, Amtek Auto has world class facilities in India, Europe and North America. Shares of Amtek Auto closed trading at Rs 29.70, up 0.85% from the previous closing of Rs 29.45, on BSE on Friday.