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CCI approves acquisition of equity in Escorts by Kubota Corporation

The transaction involves Kubota's acquisition of certain additional equity shares of Escorts by way of preferential allotment

Topics
Escorts | CCI

Press Trust of India  |  New Delhi 



Nikhil Nanda, Chairman and MD, Escorts Ltd
Nikhil Nanda, Chairman and MD, Escorts Ltd

Fair trade regulator on Wednesday approved the acquisition of certain additional equity in Ltd by Kubota Corporation.

The transaction involves Kubota's acquisition of certain additional equity shares of by way of preferential allotment and a mandatory tender offer in compliance with the Securities and Exchange Board of India's norms, according to a statement.

Kubota is an agriculture product manufacturer and offers various machinery. It also offers engineering, procurement and construction to maintenance, among others.

is engaged in the business of manufacturing and sale of agri-machinery, construction equipment and railway equipment in India.

"The Commission approves acquisition of certain additional equity shares of Escorts Limited by Kubota Corporation by way of preferential allotment," said the regulator in a tweet.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


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First Published: Wed, February 02 2022. 18:20 IST

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