EID Parry acquires majority stake in GMR Industries LTD
EID Parry India subsidiary of $ 3 billion Murugappa Group has acquired a majority stake in GMR Industries Ltd for an undisclosed amount.
By PTI |
CHENNAI: EID Parry India subsidiary of $ 3 billion Murugappa Group has acquired a majority stake in GMR Industries Ltd for an undisclosed amount.
The company has acquired 1,29,75,110 equity shares of Rs 10 each representing 65 per cent of the paid up and issued equity share capital of GMR Industries Ltd, subsidiary of GMR Holdings LTD.
Through this acquisition, GMR Industries has become a subsidiary of our company with immediate effect, EID Parry India said in a statement here.
This is in pursuance of the April 26 share purchase agreement signed with GMR Holdings Pvt. Ltd, it added.
The company has acquired 1,29,75,110 equity shares of Rs 10 each representing 65 per cent of the paid up and issued equity share capital of GMR Industries Ltd, subsidiary of GMR Holdings LTD.
Through this acquisition, GMR Industries has become a subsidiary of our company with immediate effect, EID Parry India said in a statement here.
This is in pursuance of the April 26 share purchase agreement signed with GMR Holdings Pvt. Ltd, it added.
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