Business Update14 Sept 2024, 01:00 am
Take Solutions Ltd. to Disinvest Wholly Owned Subsidiary Ecron Acunova Limited for USD 6.50 Million
AI Summary
Take Solutions Ltd. has approved the disinvestment of 100% equity stake in its wholly owned subsidiary, Ecron Acunova Limited, to H.I-G. Capital, LLC and Navitas Intermediate Corporation for a total consideration of USD 6.50 million. The decision comes as the company aims to meet its outstanding liabilities and comply with Regulation 30 of SEBI LODR. The sale is expected to be completed by October 30, 2024, subject to necessary approvals.
Key Highlights
- Take Solutions Ltd. to disinvest its wholly owned subsidiary, Ecron Acunova Limited, for USD 6.50 million.
- The decision is part of the company's efforts to meet its outstanding liabilities and comply with Regulation 30 of SEBI LODR.
- The buyers, H.I-G. Capital, LLC and Navitas Intermediate Corporation, do not belong to the promoter/promoter group companies.
- The sale is expected to be completed by October 30, 2024, subject to necessary approvals.
- Ecron Acunova Limited contributed 97% of the revenue for FY 2023-24 for the listed entity.