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Board of Hil approves sale of HYSIL Business to Calderys India Refractories

Capital Market 

At meeting held on 16 January 2020

The Board of Hil at its meeting held on 16 January 2020 has approved the following -

Sale and transfer of the Company's calcium silicate insulation products division operated under the brand "HYSIL" to Calderys India Refractories through a slump sale arrangement on a going concern basis.

Authorised official(s) of the Company to finalize the terms and conditions of the transfer of the HYSIL Business to Calderys India Refractories through a slump sale on a going concern basis, and to execute a business transfer agreement (Agreement) with Calderys India Refractories to capture such terms and conditions.

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

First Published: Thu, January 16 2020. 19:09 IST
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