AGC Networks hits new 52-week high after subsidiary Black Box completes acquisition of Z Services Holding

Black Box had acquired 76% of shares of Z Services HQ DMCC by execution of Share Sale Agreement with Z Services Holding on March 11, 2021.

Apr 05, 2021 11:04 IST India Infoline News Service

Bull Market
AGC Networks Limited informed the exchanges Saturday that Black Box Holdings Limited has completed the acquisition of Z Services Holding Ltd with the effective date being April 01, 2021.

The company stock was in demand amid huge selling activity seen in the markets. At around 11.51 am, AGC Networks Limited was trading at Rs1413.65 per piece up Rs67.30 or 5.00% on the BSE. IT hit a new 52-week high of Rs1413.65 per piece early on.

Black Box, an Indirect Wholly-Owned Subsidiary of the company, had acquired 76% of shares of Z Services HQ DMCC (company being limited liability company incorporated under laws of Dubai Multi Commodities Centre (“DMCC”) by execution of Share Sale Agreement with Z Services Holding Ltd (a BVI business company incorporated in the British Virgin Islands) hereinafter referred to as “seller” on March 11, 2021.

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