ITC has entered into a Share Purchase agreement with its wholly owned subsidiary, Russell Credit for acquisition of 36,26,633 Equity Shares of Rs 10 each of International Travel House (ITHL), a listed associate company, representing 45.36% of ITHL’s share capital. Post the aforesaid acquisition, the total shareholding of the Company in ITHL will increase from 3.60% to 48.96%.
The company has also entered into a Share Purchase agreement for acquisition of 90,000 Equity Shares of Rs 100 each of Maharaja Heritage Resorts (MHRL), an unlisted joint venture company, representing 25% of MHRL’s share capital. Post the aforesaid acquisition, the total shareholding of the Company in MHRL will increase from 25% to 50%.
The acquisition of shares is expected to be completed within 15 days from March 15, 2024 i.e. the date of execution of the Share Purchase Agreement.
ITC has business a interests in cigarettes, hotels, paperboards and specialty papers, packaging, agribusiness, packaged foods and confectionery, information technology, branded apparel, personal care, stationery, safety matches and other FMCG products.
