According to reports from Business Standard, Kalyani Powertrain (KPTL), a wholly owned subsidiary of Bharat Forge, has executed a definitive agreement dated July 22, 2026 with REFU Drive GmbH. The agreement involves the sale of KPTL's entire 50% equity stake in REFU to REFU Elektronik GmbH for a consideration of EUR 12,500. The transaction is subject to the terms and conditions set out in the agreement.
As reported by Business Standard, upon completion of the transaction, REFU shall cease to be a joint venture of KPTL. The divestment represents a significant strategic move by Kalyani Powertrain to reduce its exposure in the joint venture structure. The EUR 12,500 consideration reflects the valuation of KPTL's stake in the German-based joint venture company.
According to the agreement terms reported by Business Standard, the transaction will result in a fundamental change to the joint venture structure between KPTL and REFU Elektronik GmbH. The divestment involves KPTL's 50% equity stake in the joint venture company, which will be transferred to REFU Elektronik GmbH upon completion of the transaction.
