Autoline terminates Stokota acquisition

New Delhi, June 20: Indian vehicle parts maker Autoline Industries Ltd today said it was terminating its acquisition agreement of Belgium's Stokota.

Citing unspecified compliance issues, the company statement said the agreement had become infractious.

Autoline had agreed to buy 51 per cent of Stokota's global operations for Rs 66.8 crore in cash and stock in February this year.

UNI