Salasar Techno Engineering Acquires EMC for Rs 178 Crore

Salasar Techno Engineering Acquires EMC for Rs 178 Crore

The overall acquisition price of the engineering, procurement and manufacturing (EPC) agency is Rs 178 crore, STEL mentioned in a press release.

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Share Market Information: Salasar Techno Engineering Ltd (STEL) has accomplished the method to amass EMC Ltd by an insolvency course of. In its newest submitting dated Could 20, the agency has mentioned that “acquisition has been executed in compliance with the phrases and circumstances” and {that a} “sale certificates has been issued by the Liquidator in favor of Salasar confirming completion of sale”.

The overall acquisition price of the engineering, procurement and manufacturing (EPC) agency is Rs 178 crore, STEL mentioned in a press release.

“Salasar efficiently concludes the cost of Rs 168 crore for acquisition of EMC Ltd. In March, Salasar purchased EMC by an e-auction facilitated by the liquidator. The acquisition is valued at Rs 178 crore,” it mentioned.

On the targets behind the acquisition, STEL mentioned the mixing of EMC Ltd will strengthen its market place as a number one engineering and infrastructure firm. STEL can also be into manufacturing of metal constructions.



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