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Automotive parts and components manufacturer Pricol Ltd has sold its 49% shares in its joint venture with Japan-based Denso Corporation, Denso Pricol India Private Limited, for a consideration of Rs 20 crore.
The company said that it has signed a share purchase and JV termination agreement on Tuesday, with Denso Corporation. The JV supplies instrument clusters to passenger car and utility vehicles manufactred by automobile majors like Toyota Kirloskar Motors Ltd and Maruti Suzuki India Ltd, according to the annual report of the company for the year ended March, 2014.
