22 Sept 2022 , 10:21 AM
Kirloskar Oil, a global pioneer in the production of diesel engines, agricultural equipment, and generator sets, has already acquired a 76% stake in LGM in the year 2017.
Under the said agreement, the company agreed that the balance holding will be acquired by KOEL over a 5-year period.
LGM will become a 100% subsidiary of KOEL if the transaction is completed within the previously agreed-upon deadlines.
With a solid management team in place, LGM will focus on growing this business to its full potential, expanding and broadening its reach, and using KOEL's capabilities in channel, service, manufacturing, and R&D to create a world-class, self-sustaining organisation, stated the company in its media release.
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