Acquisitions24 Jun 2024, 08:49 pm
Swan Energy Ltd. Acquires 49% Shares of Triumph Offshore Pvt. Ltd. for Rs. 440 Crore, Gaining 100% Subsidiary
AI Summary
Swan Energy Ltd. has approved the acquisition of 49% equity shares of Triumph Offshore Pvt. Ltd. (TOPL) from Indian Farmers Fertiliser Cooperative Limited for a total price of Rs. 440 Crore. This acquisition will make TOPL a 100% subsidiary of Swan Energy Ltd. The transaction is expected to be completed by 10th August, 2024. The cost of acquisition is approximately Rs. 16.78 per share via a Share Purchase Agreement. TOPL's line of business involves a Floating Storage Regasification Unit (FSRU) vessel. As of March 31, 2024, TOPL had a share capital of Rs. 53.50 crore and a turnover of Rs. 646.90 crore.
Key Highlights
- Swan Energy Ltd. to acquire 49% shares of Triumph Offshore Pvt. Ltd. for Rs. 440 Crore
- Transaction will make TOPL a 100% subsidiary of Swan Energy Ltd.
- Expected completion date of the acquisition is 10th August, 2024
- Approximate cost of acquisition is Rs. 16.78 per share via SPA
- TOPL's line of business involves a Floating Storage Regasification Unit (FSRU) vessel