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Our Bureau

Hyderabad, Sept. 18: Neha International Limited, a city-based floriculture company, is acquiring the Mauritius-based Globeagro Holdings for a consideration of Rs 41.32 crore.

The Mauritius company has management control of three Ethiopian floriculture companies — Holetta Roses Plc, Alliance Flowers Plc, and Oromia Wonders Plc.

Mr G. Vinod Reddy, Managing Director of Neha International, said the amount would be paid partly by equity swap and partly by cash.

To part finance this acquisition, the company will issue 23 lakh equity shares and 42.50 lakh share warrants at a price of Rs 42 (at a premium of Rs 32), a press release said.

More Stories on : Mergers & Acquisitions | Floriculture

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