Cera Sanitaryware Acquires Stake In Milo Tile
Cera Sanitaryware Limited informs the acquisition of 26% stake in Milo Tile LLP. Detailed information is annexed below:
| 1 | Name of the entity(ies) with whom agreement is signed; | Milo Tile LLP |
| 2 | Area of agreement; | Project for manufacturing of Tiles |
| 3 | Domestic/International; | Domestic |
| 4 | Share exchange ratio; | 26% Share in Existing LLP by Cera Sanitaryware Limited |
| 5 | Scope of business operation of agreement; | Manufacturing of Tiles |
| 6 | Details of consideration paid/ received in agreement; | No consideration paid. Approximately Rs. 8.00 to 10.00 Cr. will be invested. |
| 7 | Significant terms and conditions of agreement in brief; | Yet to be finalized. |
| 8 | Whether the acquisition would fall within related party transactions and whether the promoter/ promoter group/ group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at "arms length"; | Not related party transaction.Promoters / Promoter group have no interest in MILO TILE LLP |
| 9 | Size of the entity(ies); | Approximate project cost Rs. 40.00 Crores. |
| 10 | Rationale and benefit expected. | CERA will get good quality of Tiles for Tiles segment sales. |
