CUMI GmbH successfully bids for acquisition of AWUKO Abrasives, Germany

Image
Capital Market
Last Updated : Dec 23 2021 | 3:50 PM IST
Carborundum Universal's step down subsidiary, CUMI GmbH, Germany has entered into an Asset Purchase Agreement with the Insolvency Administrator of M/s AWUKO ABRASIVES Wandmacher GmbH & Co. KG, Germany (AWUKO) on 22 December 2021 for acquiring the main assets of AWUKO.

The asset purchase deal will be subject to completion of negotiations with the Works Council in connection with rightsizing of employees as well as agreements with the lessors/creditors of AWUKO. The estimated purchase price is Euro 6.01 million excluding the compensation cost to be agreed with the Works council and other costs, if any with the Insolvency Administrator.

Powered by Capital Market - Live News

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Dec 23 2021 | 3:39 PM IST

Next Story