Diamond Cables clarifies on news item regarding take over of Apex Electricals

With reference to the news item appearing in a leading financial daily in relation to the take-over of Apex Electricals, Diamond Cables Ltd has announced that the heading and the some contents of the captioned news is not correct. Further the Company has clarified that it is evaluating various options and opportunities with various Companies in the power sector and the negotiations are in the primary stage and nothing is concretely shaped.

Further, the Company has not appointed the Ernst and Young to prepare a report or carryout due diligence for Apex Electricals.

The Company has not yet negotiated any deal either with Mr. Ramesh Sanghavi or with Apex Electricals so far and its group Companies to finalise any take-over process.

Source : Equity Bulls

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