NIBE Ltd Acquires 99.95% Stake in Nibe Meson Naval Ltd for Rs. 4,89,500

NIBE Limited has informed the Exchange about the Update on Acquisition. The company has acquired 48950 Equity Shares (48.95%) of Nibe Meson Naval Limited from the existing shareholders, resulting in Nibe Limited holding 99.95% of the total paid-up share capital of the Target Company. The acquisition is completed with a cash consideration of Rs. 4,89,500 (Four Lakh Eighty-Nine Thousand Five Hundred only). The Target Company is engaged in the business of manufacturing, assembling, and supplying equipment and systems for controlling and managing fluids, including valves, actuators, remote-piping, pumps, related components, along with providing control systems, and installation and maintenance services. The acquisition was made to gain substantial Management Control and flexibility in strategic decision-making.