At meeting held on 23 May 2017
The Board of Directors of Voltas at its meeting held on 23 May 2017 has approved a proposal to enter into joint venture arrangement with Arcelik A.S, a company incorporated in Istanbul, Turkey, for establishing a joint venture company, to tap the fast growing consumer durables market in India. The proposed JVC to be incorporated would be engaged in the business of refrigerators, washing machines, microwaves and other white goods/ domestic appliances in India.The JVC will have an equity capital of USD 100 million, and Tata Investment Corporation (TICL) and KoHolding (KO will also hold 1% equity stake each, in the new Joint Venture.
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