Apar Industries Subsidiary Acquires 70% Stake in Hebei Jinghuan Cable

Apar Industries Ltd announced that its wholly-owned subsidiary, Petroleum Specialities Pte Ltd. (PSPL), will acquire a 70% equity interest in Hebei Jinghuan Cable Co. Ltd, a Chinese company, for RMB 24.85 million (approximately 70% of Net Asset Value). Hebei Jinghuan Cable is a non-operating entity that will be utilized for exporting overhead conductors. This acquisition aims to diversify Apar Industries' manufacturing presence for aluminium overhead conductors globally. The transaction is expected to be completed in installments, with the first tranche of 30% of the purchase price due within 7 business days of the closing date. The remaining 70% will be held in escrow, released upon fulfillment of agreed conditions. PSPL also holds a call option to acquire the remaining 30% stake after five years.