Mahindra Mahindra to acquire balance stake in Mahindra Waste To Energy Solutions

15 Sep 2022 , 01:32 AM

Mahindra Mahindra has entered into a share purchase agreement to acquire balance 1261Percentage stake in Mahindra Waste To Energy Solutions MWTESL a subsidiary of the company Post the acquisition the company will sell 80Percentage of the paid-up equity share capital of MWTESL comprising of 24000000 equity shares to Blue Planet Environmental Solutions BPES or any of its Affiliates buyer in one or more tranches at a price of Rs 844 rounded off per share first closing for an aggregate consideration of Rs 2025 crore The company will have the right of put option to sell the balance 20Percentage stake in MWTESL and BPES will have the call option after 24 months from first closing at a price not less than Rs 844 per share subject to certain closing conditions second closing