News > Sona BLW shares rise after €40.5 million acquisition in Serbia, analysts give it a thumbs up

Sona BLW shares rise after €40.5 million acquisition in Serbia, analysts give it a thumbs up

Shares of Sona BLW Precision Forgings Ltd. gained as much as 6 per cent in early trade on Tuesday after the company announced the acquisition of a 54 per cent stake and voting rights in Serbia-based NOVELIC, a leading provider of mmWave radar sensors. The transaction will be done for a sum of 40.5 million Euros, which will be payable in three tranches within two years from the completion of the deal.