Varroc Engg tanks 9% as firm sells 4-wheeler lighting biz at reduced price

As per the revised terms, the said transaction price was reduced from euro 600 million to euro 520 million.

Shares of Varroc Engineering tanked 9 per cent to Rs 308.55 on the BSE in Friday's intra-day trade after the company said it completed the divestment of the 4-wheeler lighting business in the Americas and Europe. The stock of auto components & equipments company was trading at its lowest level since July 18, 2022.

The company and its Netherland-based subsidiary entered into an amended settlement agreement with Vale Vision S.A.S. France for divesting its 4-wheeler lighting systems business in America and Europe. As per the revised terms, the said transaction price has been reduced from euro 600 million to euro 520