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KEC International on Thursday informed the exchanges that its five wholly owned step-down subsidiaries have been merged with another wholly owned step down subsidiary - SAE Towers Holdings LLC on September 29. The company has received the merger certificate dated October 3 from the Authority of State of Delaware. The five subsicidaries - KEC International Holdings LLC, KEC Brazil LLC, KEC Mexico LLC, KEC Transmission LLC and KEC US LLC - were incorporated as special purpose vehicles at Delaware, US. The stock of KEC International closed at ₹311.75, down one per cent, on the NSE.
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