Triveni Engineering & Industries has acquired 25.43% stake in Sir Shadi Lal Enterprises (SSEL) for Rs 35 crore and launched an open offer to shareholders for acquiring an additional 26% stake. The acquisition is in line with the objective to expand its business operations in sugar and alcohol businesses. This is a strategic acquisition due to synergies in both businesses. The company would look to further expand the business and drive the next growth phase of SSEL.
Triveni Engineering & Industries is a focused, growing corporation having core competencies in the areas of sugar and engineering. The Company is one amongst the largest sugar manufacturers in India and the market leader in its engineering businesses comprising high speed gears, gearboxes, and water treatment solutions.
