Archive · 23 Jul 2026
Bharat Forge Exits German JV REFU Drive
Bharat Forge, an Indian company, is selling its half of a German company called REFU Drive GmbH to its partner, REFU Elektronik GmbH, for a small amount of money.
This is because REFU Drive GmbH isn't making money and has more debt than assets.
Bharat Forge's share price has been going up recently, but this sale won't affect its overall financial reports.
The deal should be finished in about six weeks.
Bharat Forge's subsidiary, Kalyani Powertrain, is selling its 50% stake in REFU Drive GmbH to REFU Elektronik GmbH.
The sale price is EUR 12,500, subject to agreement terms.
The transaction is expected to complete within six weeks.
REFU Drive GmbH reported EUR 14.42 million in revenue and a negative net worth of EUR 3.23 million last year.
Bharat Forge's share price has increased 17.32% in the last three months and 50.06% year-to-date.
- Who
- Bharat Forge and REFU Elektronik GmbH
- What
- Sale of Bharat Forge's 50% stake in REFU Drive GmbH
- When
- Transaction expected to complete in six weeks
- Where
- Germany
- Why
- Bharat Forge views the JV as not financially beneficial
Bharat Forge's Perspective
REFU Elektronik's Perspective
Valuation of the JV
Bharat Forge's Perspective
Bharat Forge views the JV as not financially beneficial, given its negative net worth.
REFU Elektronik's Perspective
REFU Elektronik sees value in acquiring full control of REFU Drive GmbH.
- Company
- Bharat Forge
- Subsidiary
- Kalyani Powertrain (KPTL)
- Joint Venture
- REFU Drive GmbH
- Purchase Price
- EUR 12,500
- Transaction Timeline
- Expected to complete in six weeks
- REFU Drive GmbH Revenue
- EUR 14.42 million
- REFU Drive GmbH Net Worth
- Negative EUR 3.23 million
- Bharat Forge Share Price Change (3 months)
- 17.32% increase
- Bharat Forge Share Price Change (YTD)
- 50.06% increase