JSW Infrastructure has executed a Share Purchase Agreement (SPA) with JSW Terminal (Middle East) FZE (JSW Terminal) and JSW Overseas FZE (JSW Overseas) to acquire 100% of the share capital of JSW Overseas from JSW Terminal, subject to receipt of necessary approval of the relevant authority under applicable laws of India and UAE.
Upon completion of the transaction as contemplated under the SPA, JSW Overseas, a step-down wholly owned subsidiary of the company will become a direct wholly owned subsidiary of the company.
Earlier, the company had received approval from the Board of Directors for acquisition of 100% shares of JSW Overseas from JSW Terminal (Middle East) FZE, at book value, for total consideration of Rs 19.21 lakh (78446 AED (United Arab Emirates Dirham)). The proposed acquisition is aimed towards achieving administrative and operational convenience.
JSW Infrastructure is part of the JSW Group, a multinational conglomerate with an international portfolio of diversified assets across various sectors, including steel, energy, infrastructure, cement, paints, venture capital, and sports.
| Company Name | CMP |
|---|---|
| Adani Ports &Special | 1675.00 |
| JSW Infrastructure | 339.75 |
| Gujarat Pipavav Port | 163.50 |
| Paradeep Parivahan | 294.70 |
| View more.. | |
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