Empee Distilleries has received an approval for sale of 1,33,67,000 equity shares of Rs 10 each (which constitutes 89.85% of share capital) held in Empee Power and Infrastructure aggregating to Rs 13.36 crore to Appollo Alchobev.
The board of directors at their meeting held on February 11, 2015 have approved for the same. Accordingly Empee Power and Infrastructure will cease to be a subsidiary company of Empee Distilleries.
Empee Distilleries started over two decades ago in a small way in Chennai for manufacturing Indian made foreign liquor (IMFL); it has now expanded substantially with state-of-the-art manufacturing facilities not only in Tamil Nadu but also in Kerala, Karnataka and Andhra Pradesh.
