Kanpur Plastipack Ltd to Acquire UK-based Valex Ventures Limited for ~ 5,010.81 per Equity Share

Kanpur Plastipack Ltd, a packaging industry company, has approved the acquisition of 76.19% equity share capital of UK-based Valex Ventures Limited from its promoter, Mr. Manoj Agarwal, at a price of ~ 5,010.81 per equity share. The total consideration for the acquisition is 8,01,72,960/-. The acquisition will be undertaken on an arm's length basis and will be subject to necessary approvals from shareholders and the Stock Exchanges. The acquisition will enable Kanpur Plastipack Ltd to expand its geographical reach to the UK.