Common Contracts
1 similar Unit Transfer Agreement contracts
Tata Motors signs Definitive Agreement for the acquisition of Ford India’s Sanand plantUnit Transfer Agreement • August 8th, 2022
Mumbai, Aug 7th, 2022: Tata Passenger Electric Mobility Limited (TPEML), a subsidiary of Tata Motors Ltd, and Ford India Private Limited (FIPL), have today signed a Unit Transfer Agreement (UTA) for the acquisition of FIPL’s manufacturing plant situated at Sanand, Gujarat, which inter-alia includes: (i) entire land & buildings; (ii) Vehicle Manufacturing Plant along with machinery and equipment situated therein; and (iii) transfer of all eligible employees of FIPL’s vehicle manufacturing operations at Sanand, for a total consideration, exclusive of taxes, of Rs 725.7 Cr (Seven Hundred Twenty Five Crores and Seventy Lakhs).
