Brief: Astral Will Acquire 51% Shares Of Gem Paints Against Redemption Of Convertible Debentures For 1.94 Billion Rupees

Astral

01/08/2023 07:33

Aug 1 (Reuters) - Astral Ltd  ASTL.NS :
    * WILL ACQUIRE 51% SHARES OF GEM PAINTS AGAINST REDEMPTION
OF
OPTIONALLY CONVERTIBLE DEBENTURES AMOUNTING TO 1.94 BILLION
RUPEES
    * BALANCE 49% EQUITY STAKE WILL BE ACQUIRED BY ASTRAL OVER A
PERIOD OF 5 YEARS IN TRANCHES

Source text for Eikon:  ID:nBSE9wrfFp 
Further company coverage:  ASTL.NS 

 ((Reuters.Briefs@thomsonreuters.com;))