Swan Energy has received approval for the acquisition of 26,21,50,000 equity shares of Rs 10 each of Triumph Offshore (TOPL) (representing 49% of total equity of TOPL) from Indian Farmers Fertiliser Cooperative (IFFCO) at a total price of Rs 440 crore, as per duly executed Share Purchase Agreement.
At present, the company holds 51% equity in TOPL. With the above acquisition, TOPL shall become 100% subsidiary of the company. The acquisition is to be completed on or before August 10, 2024. The Board of Directors of the company at its meeting held on June 24, 2024, has approved the same.
Swan Energy is engaged in the business of Real Estate, Textile and Energy.
