Acquisitions12 Dec 2025, 07:31 pm
Lakhotia Polyesters (India) Ltd to Acquire 100% Stake in Dubai-based New Nexus FZ LLC
AI Summary
Lakhotia Polyesters (India) Ltd has approved the proposed acquisition of 100% stake in New Nexus FZ LLC, a Dubai-based entity. The acquisition is a related party transaction and will enable the company to expand its business geography in the African Region. The proposed acquisition requires the approval of the ODI and is expected to be completed by March 31, 2026. The cost of acquisition is the cash consideration for 100 shares of New Nexus FZ LLC having a face value of AED 1,000 per share.
Key Highlights
- Lakhotia Polyesters (India) Ltd to acquire 100% stake in New Nexus FZ LLC
- Acquisition is a related party transaction
- Transaction will enable the company to expand business in African Region
- Proposed acquisition requires approval of the ODI
- Expected to be completed by March 31, 2026