AUTOLINE INDUSTRIES LTD. - Outcome of Executive Committee Meeting
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| 15 Sep 2014 | |
| With reference to the earlier announcement dated September 01, 2014 wherein it was informed that the Board of Directors of the Company had considered and approved in-principle for disposal of assets/ divestment of stock / shares of Companys Wholly Owned Subsidiary - Autoline Industries Inc. USA. Further the Board authorized the Executive Committee to negotiate and finalise the terms and conditions of transaction.<br/><br/>In this connection, Autoline Industries Ltd has now informed BSE that the Executive Committee at its Meeting held on September 13, 2014 have after negotiations, accepted the Letter Of Intent received on September 13, 2014 from a Prospective Buyer for purchase of 100% stake in Autoline Industries Inc. USA, for a consideration of USD 8.50 Million, which is subject to due diligence and other conditions precedent to the transaction. | |
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