Toyam Sports enters into SPA for acquisition of 51% in Pacific Star Sports Services LLC

Toyam Sports Limited has entered into Share Purchase Agreement for acquisition of 51% of the company of Pacific Star Sports Services L.L.C established under the laws of Dubai having its registered office at 402 Building, 1, Baysquare, Business Bay - PO Box 486117, Dubai, UAE. has been executed for total consideration by way of share swap transaction for amount of Rs. 182,22,500,000.

Upon transfer of Equity Shares of Pacific Star Sports Services L.L.C to the Toyam Sports Limited, which process is underway and subject to statutory approval, Pacific Star Sports Services L.L.C shall become a subsidiary of the Company.

Shares of Toyam Industries Ltd was last trading in BSE at Rs. 18.07 as compared to the previous close of Rs. 19.02. The total number of shares traded during the day was 2032324 in over 1656 trades.

The stock hit an intraday high of Rs. 19.00 and intraday low of 18.07. The net turnover during the day was Rs. 37041393.00.

Source : Equity Bulls

Keywords

ToyamSports INE457P01020 Acquisition PacificStarSportsServices