Ramkrishna Forgings close to Trinity buy

Auto parts maker Ramkrishna Forgings Ltd is close to acquiring unlisted Trinity Engineers Pvt Ltd in a deal worth around Rs1.5-2.0 billion, three sources close to the deal said on Tuesday.

The acquisition is almost complete, expect for a few finer points, a source said. "They are working towards finalising it, but I cannot put a time stamp. It will be very soon." A Ramkrishna Forgings spokesman refused to comment, while Trinity's Joint Managing Director Asheet Pasricha said he would not comment on rumours.