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The joint venture agreement was signed at Sonalika’s office at New Delhi on Wednesday, 17th October 2018 in presence of Dr. Deepak Mittal, MD, Sonalika-ITL and Omar Terrah, MD, FAMAG SPA, Algeria.
NEW DELHI: Country's third largest tractor manufacturer International Tractors Ltd on Tuesday announced a joint venture with its long-term associate and distributor FAMAG in the Algerian market.
The Joint venture where Sonalika will acquire minority stake is a step towards further strengthening the association and presence of Sonalika in the Algerian market and ITL’s vision of serving the local customers with best-in-class technology.
KPMG in India was the exclusive financial advisors for Sonalika for this transaction. he fresh funding from Sonalika shall be utilised to further augment the manufacturing capacity and technical capabilities of the Joint venture.
Economictimes
NEW DELHI: Country's third largest tractor manufacturer International Tractors Ltd on Tuesday announced a joint venture with its long-term associate and distributor FAMAG in the Algerian market.
The Joint venture where Sonalika will acquire minority stake is a step towards further strengthening the association and presence of Sonalika in the Algerian market and ITL’s vision of serving the local customers with best-in-class technology.
KPMG in India was the exclusive financial advisors for Sonalika for this transaction. he fresh funding from Sonalika shall be utilised to further augment the manufacturing capacity and technical capabilities of the Joint venture.
Economictimes