Shree Renuka buys 51% stake in Brazil’s Grupo Equipav for Rs 1,530 cr

2010 February 22

tags: Brazil’s Grupo Equipav, Equipav., Shree Renuka, Shree Renuka buys 51% stake

by chandra

Shree Renuka buys 51% stake in Brazil’s Grupo Equipav for Rs 1,530 cr. The company says there is no need of open offer as Equipav is unlisted entity. Shree Renuka may look to increase stake in Equipav. The deal will be funded by internal accruals, debt, warrants issue. Last Nov, company bought Brazil’s based sugar and ethanol producer VDI for an EV of $ 240 m which will be paid in 8 years. The company has raised Rs 506 cr at Rs 137 in July 2009.

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Shree Renuka buys 51% stake in Brazil’s Grupo Equipav for Rs 1,530 cr

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