CIE Automotive ( (ES:CIE) ) has provided an announcement.
CIE Automotive has reported that its transactions with shareholder Mahindra & Mahindra Group exceeded 2.5% of its annual consolidated turnover for the fiscal year ending December 31, 2024. The M&M Group, which holds an 8.01% stake in CIE Automotive, divested its stake in CIE Automotive India Ltd in 2023. The ongoing business relationships between CIE Automotive and the M&M Group involve the exchange of automotive parts and services, conducted at market prices and through standard negotiation processes. These transactions have been regularly reviewed and ratified by CIE Automotive’s Audit Committee and Board of Directors, ensuring they are part of the ordinary course of business without conflicts of interest.
More about CIE Automotive
CIE Automotive is a company operating in the automotive industry, primarily focused on manufacturing automotive components and parts. It serves a global market with operations in India, China, and Europe, providing various automotive technologies and parts.
YTD Price Performance: 1.92%
Average Trading Volume: 888
Technical Sentiment Consensus Rating: Hold
Current Market Cap: €2.86B
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