Indian companies seem to be at the forefront when it comes to acquiring rivals. One such case has come to the fore wherein Minda Industries has said that it will pick up a 51 per cent stake in Uzbekistan’s UzChasys. The latter is a prominent automotive light manufacturing maker. The stakes amount to almost Rs 58 crore and Minda Industries claims to have won the bid for the same. With the Uzbekistan government now ready to divest their stake in the government-controlled facilities, more and more opportunities are coming up for investors. The government had set up the auction as well. UzChasys specialises in manufacturing of automobile headlights and lamps and is a leading supplier to OEMs in Uzbekistan and has significant exports. Uzbekistan automotive market is expected to grow significantly in coming years along with introduction of new models which will benefit UzChasys. The acquisition will further expand the company’s geographical footprints.
Minda Industries in the meanwhile will also expand its reach with this acquisition. The company is well-known in India and caters to many OEMs. It remains to be seen if UzChasys brings in something substantial to the Indian automotive lighting scene or will it be relegated to its parent nation.