Acquisitions29 Jan 2025, 10:44 pm
Transformers And Rectifiers (India) Ltd. Acquires 51% Stake in Posco-Poggenamp Electrical Steel Private Limited
AI Summary
Transformers And Rectifiers (India) Ltd. has successfully completed the acquisition of a controlling stake in Posco-Poggenamp Electrical Steel Private Limited. The acquisition was made through a Share Purchase and Shareholder’s Agreement, under which the company purchased 13770000 equity shares from the existing shareholders of PPESPL. This stake represents 51% of the total paid-up share capital of PPESPL.
Key Highlights
- Transformers And Rectifiers (India) Ltd. has acquired a controlling stake in Posco-Poggenamp Electrical Steel Private Limited
- The acquisition was made through a Share Purchase and Shareholder’s Agreement
- 13770000 equity shares were purchased from the existing shareholders of PPESPL
- This stake represents 51% of the total paid-up share capital of PPESPL
- All formalities in relation to the acquisition of PPESPL have been completed