Board of Borosil Renewables approves execution of SPA for acquisition of Interfloat and GMB

28 Apr 2022 , 01:33 AM

The Board of Borosil Renewables at its meeting held on 25 April 2022 has approved the execution of a share purchase agreement between the company the subsidiaries HSTG Glasholding GmbH and Blue Minds IF Beteiligungs GmbH SPA and execution of other necessary documents in regard the acquisition of 100Percentage of the share capital of the Target Companies lnterfloat Corporation Interfloat and GMB Glasmanufaktur Brandenbur GmbH GMB from HSTG Glasholding GmbH and Blue Minds IF Beteiligungs GmbH The Board also approved the issuance and allotment of equity shares of the company equivalent to EUR 22500000 for consideration other than cash to HSTG Glasholding GmbH and Blue Minds IF Beteiligungs GmbH Proposed Preferential Issue