India, Dec. 24 -- Gravita Europe S.R.L., a Romania-based company engaged in the trading and recycling of waste tyres, is set to become a 95 per cent-owned subsidiary of GNBV, following a proposed equity acquisition.
Currently, Gravita Europe S.R.L. is already a subsidiary of GNBV, with 80 per cent equity ownership. Under the proposed transaction, GNBV will acquire an additional 15 per cent stake, taking its total shareholding to 95 per cent.
The acquisition will be carried out through a cash consideration of €685,000 (approximately Rs 7.24 crore) for the transfer of 3,50,891 equity shares. The transaction is expected to be completed within around 30 days, subject to necessary approvals from local authorities in Romania.
The company ...