M&A

M&A

Realtor TVS Emerald to acquire Radial IT Park Phase II, III for Rs.576-Cr

Economic Times  

Chennai-based real estate firm TVS Emerald Ltd, a wholly-owned entity of TVS Holdings Ltd, will acquire construction and development firms Radial (Phase II) IT Park Pvt Ltd and Radial (Phase III) IT Park Pvt Ltd for over INR 576 crore.TVS Emerald will acquire 43.59 lakh equity shares, and 7.25 lakh compulsorily convertible debentures of Radial (Phase II) IT Park Pvt Ltd. for INR 234.33 crore. It would also acquire 55.07 lakh equity shares, and 10 lakh compulsorily convertible debentures of Radial (Phase III) IT Park Pvt Ltd. for INR 342 crore. The shares bought in both firms constitute 100% of the issued and paid-up share capital.