CEAT to acquire additional 5.14% stake in Tyresnmore Online
Capital MarketCEAT has entered into second addendum agreement to the existing share subscription and shareholders' agreement with Tyresnmore Online and other parties, for making a further investment up to Rs 2.6 crore in one or more tranches on such terms and conditions as prescribed therein to acquire additional 5.14% stake of the post issue total share capital of Tyresnmore.
Upon completion of the investment in all tranches, the total holding of CEAT in Tyresnmore on a fully diluted basis would be 40.70%.
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