Gammon India acquires substantial stake in 2 Italian firms
Construction company Gammon India today said it has acquired 50 per cent and 75.1 per cent stake respectively in two Italy- based companies.
By PTI |
MUMBAI: Construction company Gammon India today said it has acquired 50 per cent and 75.1 per cent stake respectively in two Italy- based companies, Sadelmi Spa and Franco Tosi Meccanica Spa, through its offshore subsidiaries for 47.5 million Euro (over Rs 315.85 crore).
The company through its offshore subsidiaries has acquired shares in Sadelmi and Franco Tosi Meccanica through additional infusion of equity, Gammon India said in a filing to the Bombay Stock Exchange.
Gammon has acquired 50 per cent stake in Sadelmi, a company engaged in balance of plant mainly for the power sector for Euro 7.5 million.
Besides, Gammon acquired 75.1 per cent shareholding in Franco Tosi Meccanica engaged in the manufacturing of steam turbines for thermal and hydro-electric plants for 40 million Euro.
Shares of Gammon India closed at Rs 390, up 3.92 per cent on BSE.
The company through its offshore subsidiaries has acquired shares in Sadelmi and Franco Tosi Meccanica through additional infusion of equity, Gammon India said in a filing to the Bombay Stock Exchange.
Gammon has acquired 50 per cent stake in Sadelmi, a company engaged in balance of plant mainly for the power sector for Euro 7.5 million.
Besides, Gammon acquired 75.1 per cent shareholding in Franco Tosi Meccanica engaged in the manufacturing of steam turbines for thermal and hydro-electric plants for 40 million Euro.
Shares of Gammon India closed at Rs 390, up 3.92 per cent on BSE.
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