Dairy products maker Hatsun Agro today said its board has approved a proposal for buying a feed mill unit of Coimbatore-based VKS Farms for Rs 13.50 crore in an “all cash deal“.
“The Board of Directors at its meeting have approved the acquisition of a feed mill unit at Melkaraipatti, Coimbatore belonging to VKS Farms, Coimbatore on out-right basis for Rs 13.50 crore in all cash deal basis subject to completion of due diligence and other formalities,” Hatsun Agro said in a BSE filing.
The company would remit the entire purchase consideration directly to the Indian Overseas Bank and the acquisition would be under a private treaty agreement, it said.