Forbes & Company with Equinix India enters into sale of 3.804 acres for Rs200cr

The Purchaser would also reimburse to the Company certain expenses as mentioned in the agreement.

Jun 09, 2021 03:06 IST India Infoline News Service

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Forbes & Company Limited has informed that the Company has entered into agreement for sale with Equinix India Limited for sale of approximately 3.804 acres of land at Chandivali, Mumbai for a consideration of Rs200cr.

The Purchaser would also reimburse to the Company certain expenses as mentioned in the AFS.

The completion of the Proposed Transaction subject to fulfilment of various conditions precedent as stated in the AFS is expected to be completed in Q2/Q3 of FY 2021-2022, company confirmed in a regulatory filing.

The Purchaser is not a related party to the Promoters/ Promoter Group/ Group Companies of the Company and the Proposed Transaction is not a related party transaction. 

Forbes & Company ended at Rs2,037.15 apiece down by Rs66.55 or 3.16% from its previous closing of Rs2,103.70 apiece on Sensex.

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