Acquisitions30 Jul 2025, 04:41 pm
Electrosteel Castings Acquires 100% Shareholding of T.I.S Services S.p.A for Euro 11.50 Million
AI Summary
Electrosteel Castings Ltd. has remitted an amount of Euro 11.50 million for the acquisition of 30,00,000 equity shares of Euro 1 each, representing 100% shareholding of T.I.S Services S.p.A. The acquisition was executed through a Share Purchase Agreement (SPA) with T.I.S Group S.p.A. Following the remittance, the Company has received the Share Certificates for the acquired shares, making T.I.S Services S.p.A a wholly owned subsidiary of Electrosteel Castings Ltd.
Key Highlights
- Electrosteel Castings Ltd. has acquired 100% shareholding of T.I.S Services S.p.A for Euro 11.50 million
- The acquisition was executed through a Share Purchase Agreement (SPA) with T.I.S Group S.p.A
- The Company has received Share Certificates for the acquired shares
- T.I.S Services S.p.A has become a wholly owned subsidiary of Electrosteel Castings Ltd.