Escorts divests stake in Carraro India, receives Rs.114.52 Crores

Escorts Ltd has announced that the Company has received the sale consideration of Euro 20 Million (Rs 114.52 crores) for the divestment of Company’s entire shareholding in Carraro India Ltd to its other Joint Venture Partner i.e., Carraro SpA, Italy. The same had been approved by the Board of Directors of the Company in its meeting held on August 30, 2006.

Source : Equity Bulls

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