HIL board approves acquisition of German firm through arm

Updated: Wed, Jul 11, 2018
10:26 pm
PTI
RELATED NEWS
Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities

The board of HIL today gave its approval to acquire the entire stake in Parador Holdings GmbH, Germany, through the company's wholly-owned subsidiary.

The enterprise value of Parador Holdings GmbH is 82.8 million euros (around Rs 687.2 crore).

"Pursuant to the said approval of the Board, the Company and HIL International GmbH, Germany have entered into a 'Sale and Purchase Agreement' with the shareholders of Parador Holdings GmbH, Germany," HIL said in a regulatory filing.

The CK Birla Group firm is a building solutions provider and a leading manufacturer of fibre cement roofing sheets.

 

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.