Investment In Korta Engineering India Private Limited To The Extent Of 35% Of Paid-Up Capital Of The Company.

In terms of Regulation 30 of SEBI ( Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations), we wish to inform that NRB Industrial Bearings Limited (NIBL) has entered into a share purchase agreement with Korta Inversiones, S.L of Spain ( Korta Spain), in respect to Korta Engineering India Private Limited (Korta India), which is a subsidiary of Korta Spain, and Mr. Trilochan Singh Sahney, Chairman and Promoter of NIBL ( TSS) as part of business strategy. The transfer of shares from Korta Spain to NIBL has been approved by the Board of Directors of the Korta India on 26th June, 2018 and all the terms and conditions precedent and subsequent along with their covenants of the share purchase agreement come into effect from the aforesaid date.

Pdf Link: Investment In Korta Engineering India Private Limited To The Extent Of 35% Of Paid-Up Capital Of The Company.

Source : BSE - www.bseindia.com

Published on June 26, 2018

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