India, March 26 -- Refex Green Mobility Limited (RGML) and Gensol Engineering Limited (Gensol) would like to address recent media reports concerning the proposed sale of 2,997 electric vehicle (EV) assets by Gensol to RGML.
The two companies had entered into an agreement for the asset takeover, subject to regulatory and financial approvals, as well as the completion of due diligence. The terms of the transaction were mutually agreed upon, and a comprehensive evaluation is currently in progress, encompassing financial, legal, and operational assessments.
Gensol has been fully cooperative in facilitating this review process by providing all necessary documentation and clarifications. Both companies are now awaiting the required financial an...