Acquisitions17 Feb 2025, 11:30 pm
Lloyds Metals and Energy Ltd. Acquires 79.82% Stake in Thriveni Earthmovers and Infra Pvt. Ltd. for Rs. 70 Crores
AI Summary
Lloyds Metals and Energy Ltd. has successfully acquired 79.82% of the total issued, subscribed, and paid-up equity share capital of Thriveni Earthmovers and Infra Pvt. Ltd. for a total consideration of Rs. 70,00,00,000. The acquisition was approved by the shareholders in an extraordinary general meeting held on 17th January 2025. The share subscription agreement was executed on 17th February 2025. This acquisition is expected to strengthen Lloyds Metals and Energy Ltd.'s position in the market.
Key Highlights
- Lloyds Metals and Energy Ltd. acquires 79.82% stake in Thriveni Earthmovers and Infra Pvt. Ltd.
- The acquisition is for a total consideration of Rs. 70,00,00,000.
- The acquisition was approved by the shareholders in an extraordinary general meeting held on 17th January 2025.
- The share subscription agreement was executed on 17th February 2025.
- This acquisition is expected to strengthen Lloyds Metals and Energy Ltd.'s position in the market.