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Sutlej Textiles and Industries informs about Updates on Purchase of Birla Textile Mills

01 Jul 2015 Evaluate

With reference to the earlier letters dated March 14, 2015, May 01, 2015 and June 12, 2015 in connection with the Purchase of ‘Birla Textile Mills’ (BTM), a Division of Chambal Fertilizers And Chemicals (CFCL), by Sutlej Textiles And Industries (Sutlej). Sutlej Textiles and Industries have now informed that the Company has executed ‘Business Purchase Agreement’ on June 30, 2015, for purchase of BTM by Sutlej, as a going concern, on slump sale basis. As already informed, the Competition Commission of India has already approved the present transaction. The transaction is subject to fulfillment of various other conditions, as mentioned in the aforesaid Business Purchase Agreement, and further requisite approvals. It is expected that the transaction shall be completed by September 30, 2015.

The above information is a part of company’s filings submitted to BSE.

 

Sutlej Textiles&Inds Share Price

36.86 -0.23 (-0.62%)
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Peers
Company Name CMP
Trident 26.12
Filatex India 44.94
Nitin Spinners 419.70
Nahar Spinning Mills 249.20
Sanathan Textiles 427.00
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