United Shippers Limited to transfer Marine Transport and Logistics business through slump sale

United Shippers Limited, a material subsidiary of Oricon Enterprises Limited has entered into an agreement to transfer its business undertaking, "Marine Transport and Logistics" by means of slump sale. The buyer is Shreeji Shipping, Grain Market, Jamnagar-361001.

The transfer is being undertaken through Business Transfer Agreement executed between United Shippers Limited, Mumbai and Shreeji Shipping, Jamnagar.

The total consideration to be received for the sale is Rs. 184.75 Crores.

Shares of ORICON ENTERPRISES LTD. was last trading in BSE at Rs. 32.8 as compared to the previous close of Rs. 31.25. The total number of shares traded during the day was 178310 in over 528 trades.

The stock hit an intraday high of Rs. 32.8 and intraday low of 30.75. The net turnover during the day was Rs. 5783439.

Source : Equity Bulls

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