Mahindra CIE to acquire Aurangabad Electricals for ₹830 cr

Automotive components supplier Mahindra CIE Automotive on Tuesday said it will acquire aluminium die-casting firm Aurangabad Electricals (AEL) for ₹830 crore. The acquisition will help Mahindra CIE foray into the aluminium die-casting space, as well as strengthen its presence in the two-wheeler segment, it added. Mahindra CIE is the Indian unit of Spain's CIE, a supplier of automotive components.