Stanrose Mafatlal to acquire entire holding in Stan Plaza from Standard Industries

Stanrose Mafatlal Investments has informed that by a Share Purchase Agreement executed on March 13, 2015 between the Company, Standard Industries and Stan Plaza, the Company has agreed to acquire entire equity shareholding in Stan Plaza Limited from Standard Industries.

Stanrose Mafatlal Investments & Finance Ltd has informed BSE that by a Share Purchase Agreement executed on March 13, 2015 between the Company, Standard Industries Limited (a Company under Promoter Group) and Stan Plaza Limited (one of the wholly owned and non-material subsidiary of Standard Industries Limited), the Company has agreed to acquire entire equity shareholding in Stan Plaza Limited from Standard Industries Limited on arm's length basis. The completion of purchase of equity shares of Stan Plaza Limited is subject to the terms and conditions specified in the Share Purchase Agreement.Source : BSE

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