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Escorts to sell its entire 40.44% stake in Escorts Securities

Capital Market 

Escorts along with other shareholders of Escorts Securities (ESL) have entered into a Share Purchase Agreement (SPA) with Choice Equity Broking (the Acquirer') a wholly owned Subsidiary of Choice International, to sell and transfer their entire shareholding in ESL to the Acquirer, subject to obtaining all applicable regulatory approvals.

Upon completion of the aforesaid transaction in terms of the SPA, Escorts will sell and transfer its entire 40.444% shareholding in ESL and ESL will cease to be subsidiary of the Company.

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

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First Published: Thu, April 08 2021. 16:05 IST