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Hyundai Motor signs term sheet for potential acquisition with General Motors
Industry News- Mar 13,23
Hyundai Motor India Limited (HMIL) today signed a term sheet with General Motors India (GMI). Proposed acquisition covers identified assets at GMI, Talegaon Plant, Maharashtra.
Hyundai Motor India Limited (HMIL), India’s first smart mobility solutions provider and the largest exporter since inception, signed a ‘Term Sheet’ for the potential acquisition of identified assets related to General Motors India, Talegaon Plant, Maharashtra on March 13.
The Term Sheet covers the proposed acquisition of -
(i) Land & Buildings
(ii) Certain machinery and equipment for manufacturing situated at General Motors India, Talegaon Plant
The proposed acquisition is subject to the signing of the ‘Definitive Asset Purchase Agreement’ and fulfilment of conditions precedent and receipt of regulatory approvals from relevant government authorities and all the stakeholders related to the acquisition.
Hyundai Motor India Limited
HMIL
General Motors India
GMI
Talegaon
Maharashtra
Term Sheet
Definitive Asset Purchase Agreement
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