Pricol Ltd Approves Share Purchase Agreement for Pricol Autotech Stake

Pricol Limited's Board of Directors has approved a Share Purchase Agreement where Topaz Terrace Investments (an affiliate of Warburg Pincus LLC) will acquire 38.51% of Pricol Autotech from the promoter group. This transaction is contingent upon the effectiveness of a previously approved scheme of arrangement, which demerges Pricol's Driver Information & Connected Vehicle Solutions (DICVS) Business into Pricol Autotech. The deal involves the sale of 4,69,34,833 equity shares of Pricol Autotech. The acquisition is subject to conditions including the completion of an open offer and regulatory approvals from the Competition Commission of India. Pricol Autotech is currently a wholly-owned subsidiary of Pricol Limited, but will not be held by Pricol post-demerger.