Comments
The board of Sintex Plastics Technology on Friday considered the binding offer received for the purchase of the entire equity holding of its indirect wholly-owned subsidiary, Sintex NP SAS, by a consortium of private equity investors (Siparex ETI, BNP Paribas Developpement, Carvest-Credit Agricole Regions Investissement and Africinvest) through X TECH Invest. The board has agreed to enter into exclusive and confidential discussions with the PE investors and is in the process of finalising the definitive documentations. The signing of transaction is expected to occur by July end, it said. The company is working towards reducing its leverage and the sale proceeds would be used to repay the debt in its subsidiaries. Shares of Sintex Plastics slumped 4.98 per cent at ₹5.73 on the BSE.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.