Blackstone Group firms' nominees to be on board
Nagarjuna Construction Company Ltd today said that Blackstone Group companies, which will acquire 14.5 per cent stake in the construction company, would have right to nominate one member on the board of directors with voting rights.
By PTI |
MUMBAI: Nagarjuna Construction Company Ltd today said that Blackstone Group companies, which will acquire 14.5 per cent stake in the construction company, would have right to nominate one member on the board of directors with voting rights.
The Hyderabad-based construction firm promoters and Blackstone GPV Capital Partners Mauritius V-A Ltd, Blackstone FP Capital Partners (Mauritius) V FII Ltd, Blackstone GPV Capital Partners (Mauritius) V-H Ltd (the "proposed allottees") have entered into a binding term sheet in relation to the proposed preferential allotment.
The proposed allottees would have certain rights including the right to nominate one member on the board of directors and limited affirmative, voting rights, the construction firm informed the Bombay Stock Exchange in a communique.
Definitive documents would be executed in pursuance of the term sheet and to the extent relevant, would be incorporated in the articles of association of the company, it said.
The shares of the company closed 1.34 per cent high at Rs 200.20 on the BSE.
The Hyderabad-based construction firm promoters and Blackstone GPV Capital Partners Mauritius V-A Ltd, Blackstone FP Capital Partners (Mauritius) V FII Ltd, Blackstone GPV Capital Partners (Mauritius) V-H Ltd (the "proposed allottees") have entered into a binding term sheet in relation to the proposed preferential allotment.
The proposed allottees would have certain rights including the right to nominate one member on the board of directors and limited affirmative, voting rights, the construction firm informed the Bombay Stock Exchange in a communique.
Definitive documents would be executed in pursuance of the term sheet and to the extent relevant, would be incorporated in the articles of association of the company, it said.
The shares of the company closed 1.34 per cent high at Rs 200.20 on the BSE.
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