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NRB BEARINGS LTD. - Board Meeting Outcome for Outcome Of Board Meeting - October 25, 2021
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25 Oct 2021
Pursuant to the provisions of Regulation 30 (read with Part A of Schedule III) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that the Board of Directors of the Company at its meeting held today, i.e., on Monday, October 25, 2021, inter-alia considered and approved the execution of a share purchase agreement with NRB Holdings Limited (NRB Holdings), a wholly owned subsidiary of the Company, incorporated in Dubai International Finance Centre, Dubai, United Arab Emirates for disinvestment of its 100% shareholding in its wholly owned subsidiary, NRB Bearings Europe GmbH and NRB USA Inc.&lt;BR&gt; &lt;BR&gt; Further, subsequent to the execution of the share purchase agreements, both NRB Bearings Europe GmbH and NRB Bearings USA Inc. would cease to be a wholly owned subsidiary of the Company and would be step-down subsidiaries of the Company. &lt;BR&gt; &lt;BR&gt; We request you to kindly take the above on record.&lt;BR&gt;
View all announcements for NRB BEARINGS LTD. Source: BSE India

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