Supreme Industries Limited has executed definitive agreements with Kumi and the NC on 4th April 2018, i.e. a Joint Venture Agreement and a Business Transfer Agreement, to record the terms and conditions of the transaction. The Auto Comp Business will be transferred for cash consideration of approximately INR 108 Crores. Further, the Company will hold 20.67% of the share capital of the NC. The transaction is expected to close by June 2018.

Further details of the agreements are annexed below:

(i)    Joint venture proposed to be entered by and among the company and Kumi Kasei Co., Limited (Kumi) to acquire the Automotive Component manufacturing facility situated at Khushkhera in Rajasthan (Auto Comp Business); and

(ii)    Sale of such facility as a going concern on a slump sale basis to Kumi Supreme India Private Limited (JVC).