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Asahi India Glass to make strategic investment in Timex Group Precision Engineering

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By March 2018

Glass has agreed to make a strategic investment in Precision Engineering (TGPEL) (a 100% Subsidiary Company of Timex Nederland B.V.) by acquiring and/ or subscribing to equity shares of TGPEL by March, 2018, to be held through a proposed joint venture company, Scopfy Components, which is being formed along with other investors. Towards this end, the Company has entered into Share Purchase Agreement on 30 November, 2017 to acquire equity shares as on date from the promoters and other existing shareholders.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, December 01 2017. 19:03 IST