Bharat Forge divests 50% stake in REFU Drive JV for nominal amount
BHARATFORG · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Bharat Forge's wholly owned subsidiary Kalyani Powertrain Limited (KPTL) has signed a definitive agreement on July 22, 2026 to sell its entire 50% stake in joint venture REFU Drive GmbH to JV partner REFU Elektronik GmbH for just EUR 12,500. REFU Drive had revenue of EUR 14.4 million but negative net worth of EUR 3.2 million in the last financial year. After completion within 6 weeks, REFU Drive will cease to be a JV of KPTL. The transaction is a related party deal done at arm's length based on an independent valuation.
Nominal-value exit from a loss-making JV; removes a drag on consolidated earnings. No material financial impact expected for shareholders.