ACL Cables PLC announced that the company has entered into a share sale and purchase agreement to acquire 51% per cent of the issued shares of Cable Solutions (Private) limited for Rs 481 million. A stock exchange filing said that the overall transaction contemplated includes the purchase of up to 75% of the issued shares of Cable Solutions from its existing shareholders by the Company and a consortium of investors.
The purchase of the aforementioned 51% of Cable Solutions by the Company however is subject to several conditions identified in the said share sale and purchase agreement, being completed by the existing shareholders and Cable Solutions prior to the purchase by inter alia the company.
0 comments: