Joint Venture30 Dec 2024, 04:37 pm
KEC International Ltd. Transfers Cables Business to Subsidiary KEC Asian Cables Ltd. for INR 125 Crore
AI Summary
KEC International Ltd. has executed a Business Transfer Agreement (BTA) with its subsidiary, KEC Asian Cables Ltd., to transfer the Cables Business on a going concern basis via slump sale. The transaction is valued at INR 125,00,00,000 (Indian Rupees One Hundred Twenty-Five Crore only). This move aims to improve focus on the Company's core activities, go-to-market approach, and capital allocation. KEC Asian Cables Limited is a subsidiary of KEC International Limited, which forms part of the RPG Group.
Key Highlights
- KEC International Ltd. transfers Cables Business to its subsidiary KEC Asian Cables Ltd.
- Transaction valued at INR 125,00,00,000
- Move aims to improve focus on core activities, go-to-market approach, and capital allocation
- KEC Asian Cables Limited is a subsidiary of KEC International Ltd. and a part of the RPG Group
- Transfer executed via Business Transfer Agreement (BTA)