Bosch Ltd (“Company”) has announced the sale and transfer of the Company’s Digital Mobility business (“Business”) i.e. Project house mobility solutions which includes Mobility Cloud Platform (MCP), Mobility Market (MM) and ParkZeus (PZ) as well as the Logistics Operating System (L.OS) business to Automobility Services and Solutions Private Limited, as a going concern on a slump sale basis for a cash consideration not less than INR 697.2 crore along with a purchase price adjustment applicable up to the Closing Date.
The consideration has been arrived at on the basis of an independent valuation conducted by PwC Business Consulting Services LLP and Fairness opinion on the valuation provided by Corporate Capital Ventures Private Limited and RBSA Capital Advisors LLP.
The Business clocked revenues of INR 49.9 cr in FY23. The Business Transfer Agreement in connection with the sale and transfer of the Business is proposed to be entered between the Company and Automobility Services and Solutions Private Limited by June 9, 2023.
Automobility Services and Solutions Private Limited, the buyer is a subsidiary of Robert Bosch Investment Nederland BV, which in turn is a subsidiary of Robert Bosch GmbH, Germany – Promoter of the Company.
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