Uno Minda Completes Friwo E-drive IP, Business Asset Buy; Vietnam Leg By July

Uno Minda Ltd. on Thursday said its wholly-owned unit, UnoMinda EV Systems Pvt. Ltd., has completed the acquisition of intellectual property rights and e-drive business assets from Germany’s Friwo group. The Vietnam portion of the deal is expected to close by Jul. 15, the company said in an exchange filing.

In February, Uno Minda said it would acquire the remaining stake in UnoMinda EV Systems from Friwo Geratebau GmbH and Friemann & Wolf India Pvt. Ltd. for ₹1.41 billion, making it a fully-owned subsidiary. The total deal for Friwo’s e-drive IP, R&D team, and business know-how was valued at ₹1.95 billion.