Update on Acquisition of 49% Equity shares of Triumph Offshore Private Limited (“TOPL”)
24/06/2024
In reference to the intimation given today about approval of the Board for entering into a Share Purchase Agreement for the acquisition of 26,21,50,000 equity shares of Rs. 10/- each of TOPL (representing 49% of total equity of TOPL) from Indian Farmers Fertiliser Cooperative Limited (“IFFCO”) at a total price of Rs. 440 Crore, as per duly executed Share Purchase Agreement by Swan Energy Limited (“SEL”).
We further would like to bring into the notice and information of the all concerned that SEL has
successfully remitted/completed the payment of first trench of Rs. 400 Crore to Indian Farmers Fertiliser Cooperative Limited against the said equity shares and remaining payment will be remitted in due course of time.
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