Texmaco Rail & Engineering updates on subsidiary
Texmaco UGL Rail becomes a wholly owned subsidiary of Texmaco Rail & Engineering
Texmaco Rail & Engineering announced that the Company has entered into definitive documentation to purchase the entire shareholding of UGL Rail Services, Australia in Texmaco UGL Rail for a nominal aggregate consideration of Re 1 (Indian Rupee one only).Pursuant to the acquisition of the aforesaid Shares, Texmaco UGL Rail, which was a 50:50 joint venture between the Company and UGL Rail Services, will become a wholly owned subsidiary of the Company.
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