Eicher Motors’ subsidiary - VE Commercial Vehicles (VECV), has sold its entire stake in its subsidiary Eicher Engineering Solutions, Inc. to Segula Tecnologias Espana on March 17, 2017. The total enterprise value of this deal is $1,852,000.
Consequently, Eicher Engineering Solutions, Inc. and its wholly owned subsidiaries, Eicher Engineering Solutions (Shanghai) Co. and Eicher Engineering Solutions (Beijing) Co. have ceased to be subsidiaries of VECV and in turn of the company with effect from March 17, 2017.
Eicher Motors is one of the leading manufacturers of commercial vehicle. It has manufacturing facilities located in Madhya Pradesh, Tamil Nadu, Maharashtra, and Haryana.