Nippon Leakless Corp. and Leakless Gasket India Private Limited signed a sale agreement to acquire the remaining 40% stake in Nippon Leakless Talbros Private Limited from Talbros Automotive Components Limited (BSE:505160) for Approximately INR 820 million on December 22, 2023. Upon completion, Nippon Leakless will own 100% of Nippon Leakless Talbros.

For the financial year 2022-23 Nippon Leakless Talbros reported a Total Income of INR 88.9 billion and a net worth of INR 180 billion. The board of directors of Talbros Automotive has approve the sale. This transaction is subject to certain conditions precedent and is expected to be close on January, 31 2024.

Trisheet Chatterjee, Sarvesh Kumar Saluja, Dhirendra Negi, Sidharth Sethi, Pragya Chauhan and Kumarmanglam Vijay of J. Sagar Associates acted as the legal advisors to Nippon Leakless Corporation.