AcquisitionsJul 2, 2026, 05:17 PM
Standex Acquires Remaining 9.9% Stake in Narayan Powertech for $64M
AI Summary
Standex International Corporation, through its subsidiary Mold-Tech Singapore, has acquired the remaining 9.9% interest in India-based Narayan Powertech for approximately $64 million in cash. This transaction makes Narayan Powertech a wholly-owned subsidiary of Standex, completing the acquisition process that began with a 90.10% stake in October 2024. The previous Shareholders' Agreement, which outlined a share swap for the remaining stake, was terminated as a result of this direct cash sale.
Key Highlights
- Standex acquired the remaining 9.9% interest in Narayan Powertech.
- The acquisition was for an aggregate cash consideration of approximately $64,000,000.
- Standex, through Mold-Tech Singapore, now owns 100% of Narayan Powertech.
- The initial 90.10% stake in Narayan Powertech was acquired in October 2024.
- The Shareholders' Agreement terminated automatically upon closing of the transaction.
- The direct cash sale replaced a previous share swap plan that lacked RBI approval.
Price Impact
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