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HIL board approves acquisition of German firm through arm

Press Trust of India  |  New Delhi 

The board of HIL today gave its approval to acquire the entire stake in Parador Holdings GmbH, Germany, through the company's wholly-owned subsidiary.

The enterprise value of is 82.8 million euros (around Rs 687.2 crore).

"Pursuant to the said approval of the Board, the Company and HIL International GmbH, have entered into a 'Sale and Purchase Agreement' with the shareholders of Parador Holdings GmbH, Germany," HIL said in a regulatory filing.

The firm is a building solutions provider and a leading manufacturer of

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

First Published: Wed, July 11 2018. 22:15 IST