Hyundai Motor India Signs Term Sheet for the Potential Acquisition of General Motors’ Talegaon Plant

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Source: Hyundai Motor India

The proposed acquisition is subject to the signing of the ‘Definitive Asset Purchase Agreement’ and fulfilment of conditions precedent and receipt of regulatory approvals from relevant Government Authorities and all the stakeholders related to the acquisition.

March 2023: Hyundai Motor India Limited (HMIL) has signed a ‘Term Sheet’ for the potential acquisition of identified assets related to General Motors India, Talegaon Plant, Maharashtra. The Term Sheet covers the proposed acquisition of (i) Land & Buildings and (ii) Certain machinery and equipment for manufacturing situated at General Motors India, Talegaon Plant. The proposed acquisition is subject to the signing of the ‘Definitive Asset Purchase Agreement’ and fulfilment of conditions precedent and receipt of regulatory approvals from relevant Government Authorities and all the stakeholders related to the acquisition.

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