New Delhi, Nov. 26 -- Lumax Auto Technologies Limited (LATL), automotive systems and components supplier, has completed the acquisition of 60 percent stake in Greenfuel Energy Solutions' alternate fuels business for over Rs 153 crore through its wholly owned subsidiary Lumax Resources Pvt Ltd.
The acquisition has been funded through a combination of debt and internal accruals. This acquisition is LATL's entry into the green and alternate fuels segment (across CNG, hydrogen and other applications), which is expected to witness strong and accelerated growth in the coming years, the company said in a release.
Greenfuel is a prominent supplier of i) high-pressure fuel delivery and storage systems (including related components and sub-systems)...