Essel Propack executes Share Purchase Agreement for the acquisition of Packaging India, Chennai

Essel Propack Ltd has announced that the Company has on August 30, 2006 executed a Share Purchase Agreement for acquisition of 100% of the equity holding of Packaging India Pvt Ltd (PIPL) based at Chennai, a part of CovinKare group. The acquisition shall be completed upon accomplishment of conditions precedent stated in the agreement and payment of consideration.

PIPL is engaged in the business of manufacturing flexible packaging materials.

Source : Equity Bulls

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