JK Tyre & Industries Limited (BSE:530007) agreed to acquire an additional 5% stake in Cavendish Industries Limited from Bengal & Assam Company Limited (BSE:533095) for INR 400 million on August 16, 2019. Post transaction, JK Tyre & Industries Limited will hold 69% stake in Cavendish Industries Limited on standalone basis and 85% stake with its subsidiary, JK Tornel S.A. de C.V. Cavendish Industries Limited reported a Turnover of INR 23.2 billion for the year ended March 31, 2019. Transaction has been approved by board of directors of JK Tyre & Industries Limited. No Regulatory and Governmental approvals are required. Transaction is expected to be completed within 30 days.

JK Tyre & Industries Limited (BSE:530007) completed the acquisition of an additional 5% stake in Cavendish Industries Limited from Bengal & Assam Company Limited (BSE:533095) effective August 28, 2020.