Affle India Ltd to acquire minority ownership in Explurger Pvt Ltd

The Investment Committee of Affle (India) Limited, under the delegated authority from the Board of Directors of the Company, in its meeting held today, has approved to enter into a non-binding Memorandum of Understanding to invest approximately Rs. 373 million as cash consideration by the Company to acquire minority ownership in Explurger Private Limited, a company incorporated in India (the "Transaction"). The Investment Committee has further delegated the authority to the Executive Director and CFO of the Company to enter into definitive agreements and to complete the Transaction.

Subsequent to the execution of definitive agreements, the Company shall make further disclosures in compliance with the applicable regulations.

Source : Equity Bulls

Keywords

AffleIndia MoU Acquisition Explurger