Amtek's UK arm acquires GMK Amtek

New Delhi, July 29: Amtek Auto today said its UK-based subsidiary has acquired the remaining stake in GMK Amtek Ltd.

Amtek Investments UK Ltd, acquired the remaining 11.60 per cent share capital of its subsidiary GWK Amtek Ltd. With this acquisition, the stake of the company in GWK Amtek Ltd has increased to 100 per cent, a company statement said.

The auto parts manufacturer, raised 250 million dollars through 5-year convertible bonds in May and has cash reserves of 100 million dollars to fund its acquisitions.

A year ago, it bought five auto component firms and two factories in the US and Europe for about 100 million dollar.

UNI