Novares completes acquisition of 20% equity stake in APAG
APAG will use the proceeds from the strategic investment to boost innovation and finance capacity expansion
Novares Venture Capital Fund, the investment arm of the France-based automotive supplier Novares, has completed the previously-announced acquisition of 20% stake in the Switzerland-based APAG Holding, Novares said in a press release on 19 November. The strategic investment, first announced in September this year, was done by Novares through issue of new shares. The transaction was closed on 26 October after receiving all required clearances from the relevant authorities.
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