Bharat Forge subsidiary acquires 51% more stake in Ferrovia Transrail Solutions

2 Mar 2023 , 10:23 AM

Bharat Forge announced that BF Infrastructure (BFIL), the company’s wholly-owned subsidiary, signed a Share Purchase Agreement on February 28, 2023, with PNC Infratech (PNC) and Ferrovia Transrail Solutions (Ferrovia) for the purchase of a 51% stake in Ferrovia.

Following the aforementioned acquisition, BFIL’s shareholding in Ferrovia will increase from 49% to 100%, resulting in Ferrovia becoming a wholly owned subsidiary of BFIL and the Company’s step-down subsidiary.

BF Infrastructure Limited is a non-governmental organization that was founded on July 5, 2010. It is a public unlisted company and is classified as a ‘company limited by shares’.

BF Infrastructure Limited has been in the construction business for the past 13 years, and the company’s operations are still active.

Following this development, Bharat Forge’s counter jumped 0.63% at Rs829.25, against the previous close of Rs824.05 on NSE. The counter opened at Rs829 and touched an intraday high and low of Rs834.05, and Rs821.45 respectively.

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