Deals28 Mar 2025, 08:46 pm
Refex Green Mobility Withdraws Proposed Asset Takeover from Gensol Engineering
AI Summary
Refex Green Mobility Limited (RGML) has announced its decision to withdraw from the proposed asset takeover of 2,997 electric vehicles (EV) from Gensol Engineering Limited (Gensol). The decision comes after constructive discussions and due consideration, due to evolving commitments at both ends that would make it challenging to conclude the transaction within the originally envisaged timeline. The parties have agreed not to move forward with the transaction at this stage. RGML appreciates the collaborative engagement with Gensol and reiterates its commitment to responsible operations and long-term value creation.
Key Highlights
- Refex Green Mobility Limited (RGML) withdraws from the proposed asset takeover of 2,997 electric vehicles (EV) from Gensol Engineering Limited (Gensol).
- The decision is due to evolving commitments at both ends that would make it challenging to conclude the transaction within the originally envisaged timeline.
- The parties have agreed not to move forward with the transaction at this stage.
- RGML appreciates the collaborative engagement with Gensol.
- RGML reiterates its commitment to responsible operations and long-term value creation.