Mawana Sugars plans to sell Siel Industrial Estate and Siel Infrastructure shares for rupees 118 crore
Mawana Sugars plans to sell shares of Siel Industrial Estate and Siel Infrastructure for ₹118 crore. The Sub-Committee of Independent Directors accepted the recommendation from Jones Lang LaSalle Property Consultants to sell the shares on an “as is where is” basis. The sale includes all assets and liabilities of both companies. The decision was made after a meeting with the potential buyer and legal due diligence. The transaction is valued at ₹118 crore. Mawana Sugars informed the exchanges about the decision on July 13, 2024.
Mawana Sugars is planning to sell Siel Industrial Estate and Siel Infrastructure shares for rupees 118 crore.
Mawana Sugars informed the exchnages that the deferred meeting of the Sub-Committee of Independent Directors of the Board was held today, 13th July 2024. During this meeting, the representative from Jones Lang LaSalle Property Consultants (India) Pvt. Ltd. (JLL) informed the Committee about their meeting held with the potential selected buyer and the conclusions made therein.
Company said, “The Committee has accepted recommendation made by JLL to sell/transfer the Equity and Preference Shares of Siel Industrial Estate Limited (Siel IE) and the Equity Shares of Siel Infrastructure and Estate Developers Private Limited (Siel IED), along with all their respective assets and liabilities, on ‘AS IS WHERE IS’ basis for a total consideration of Rs. 118 Crore subject to the completion of legal due diligence.”
