Sale24 Mar 2026, 04:34 pm
WPIL Ltd. Approves Sale of Entire Shareholding in Australian Subsidiary, Sterling Pumps Pty Limited
AI Summary
WPIL Ltd. has approved the sale of its entire shareholding in its Australian subsidiary, Sterling Pumps Pty Limited (SPPL). The sale is expected to be completed by the end of March 31, 2026, with a consideration of AUD 2.34 Mn for 100% of the company's shareholding. Aturia International Pte. Ltd., a subsidiary and SPV of the Company, is the buyer, making it a related party transaction. Post-sale, SPPL will cease to be a direct subsidiary but will continue to be a step-down subsidiary of WPIL Ltd.
Key Highlights
- WPIL Ltd. to sell entire shareholding in Australian subsidiary, Sterling Pumps Pty Limited
- Transaction expected to be completed by end of March 31, 2026
- Consideration of AUD 2.34 Mn for 100% of the company's shareholding
- Aturia International Pte. Ltd., a subsidiary and SPV of the Company, is the buyer
- Post-sale, SPPL will cease to be a direct subsidiary but will continue to be a step-down subsidiary of WPIL Ltd.