Elgi Equipments Incorporates Subsidiary Company In Belgium
Elgi Equipments Limited has formed a new Company in Brussels, Belgium by the name: "Elgi Compressors Belgium SPRL" as a step-down Subsidiary Company. Thus, Elgi Compressors Belgium SPRL will be a Wholly Owned Subsidiary of Elgi Compressors Europe SRL, which in turn is a Wholly Owned Subsidiary of Elgi Equipments Limited.
|Cost of acquisition or the price at which the shares are acquired||EURO 50,000 (99% held by Elgi Compressors Europe SRL & 1% held by ROTAIR SPA)|
|Industry to which the entity being acquired belongs||Distribution & Trading of Compressors. Yet to commence business operations.|
|Objects and effects of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line of business of the listed entity)||Trade, import, export, buy and sell at wholesale or retail level, distribution, representation and brokerage, and the manufacture, processing and transportation of rotary and compressors as well as demolition hammers, hydraulic hammers, any other operating or handling machinery, machines.|