M&A

M&A

Triveni Engg buys addl 36.34% stake in Sir Shadi Lal Enterprises for Rs.45-Cr

BSE Announcement  

Triveni Engineering & Industries Ltd has acquired an additional 36.34% stake from the promoters of fellow publicly listed Sir Shadi Lal Enterprises Ltd (SSEL) for an aggregate consideration of INR 44.83 crore, at a price of INR 235 per equity share.Sir Shadi Lal Enterprises is engaged in the business of sugar ethanol with two manufacturing units in Uttar Pradesh.Post the latest transaction, Triveni's stake in SSEL stands at 61.77%. Cyril Amarchand Mangaldas (CAM) is acting as Legal Advisor to Triveni and Ambit Pvt Ltd is acting as the manager to the open offer.