Acquisitions1 Feb 2025, 01:03 am
Midwest Gold Acquires Midwest Energy for Rs. 39.57 Crores in Share Swap
AI Summary
Midwest Gold Limited has announced the acquisition of Midwest Energy Private Limited for a total consideration of Rs. 39,56,69,730, through a share swap. The acquisition involves the allotment of 46,21,770 equity shares of Rs. 10 each at an issue price of Rs. 85.61 per share to the shareholders of Midwest Energy Private Limited. Midwest Energy Private Limited is a technology company focusing on providing support to clean, renewable and sustainable energy, with a turnover of Rs. 54.38 lakhs as of 04/11/2024. The acquisition is of strategic nature and is expected to result in growth opportunities and revenue growth for Midwest Gold Limited.
Key Highlights
- Midwest Gold Limited is acquiring Midwest Energy Private Limited for a total consideration of Rs. 39,56,69,730 through a share swap.
- The acquisition involves the allotment of 46,21,770 equity shares of Rs. 10 each at an issue price of Rs. 85.61 per share to the shareholders of Midwest Energy Private Limited.
- Midwest Energy Private Limited is a technology company focusing on providing support to clean, renewable and sustainable energy.
- The acquisition is of strategic nature and is expected to result in growth opportunities and revenue growth for Midwest Gold Limited.
- Midwest Energy Private Limited has a turnover of Rs. 54.38 lakhs as of 04/11/2024.