VENKY'S (INDIA) LTD. - Outcome of Board Meeting
| < Back | |
| 12 Mar 2014 | |
| Venkys (India) Ltd has informed BSE that:<br/><br/>1. The Board of Directors of the Company at its meeting held on March 12, 2014, has approved a proposal to acquire Poultry and Packaging business operations, on going concern basis, of Venkateshwara Hatcheries Private Limited (VHPL), its Holding Company, situated in Northern India in the state of Haryana, Punjab, Himachal Pradesh and Uttarakhand.<br/><br/>2. The acquisition is a part of inorganic expansion plan of the Company which will consolidate Poultry operations in Northern India thereby increasing operational efficiency due to synergy and strengthen the geographical presence for the Company in Northern India. This will increase long-term value for all stakeholders. The acquisition is estimated to cost around Rs. 75 crores.<br/><br/>3. The proposed acquisition will become effective once definitive agreements are signed in this regard, subject to all requisite regulatory and statutory approvals. Barring unforeseen circumstances the Company proposes to complete acquisition by end of Financial Year 2013-14.<br/><br/>Further the Company has informed that, the trading window for trading in the Equity Shares of the Company is closed from March 10, 2014 to March 14, 2014 (both days inclusive). | |
| View all announcements for VENKY'S (INDIA) LTD. | Source: BSE India |
© 2024 Rediff.com India Limited. All rights reserved. Disclaimer - Terms of Service - Privacy Policy - Feedback