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

13 Sep 2022 , 03:26 PM

Mahindra & Mahindra has entered into a share purchase agreement to acquire balance 12.61% stake in Mahindra Waste To Energy Solutions (MWTESL), a subsidiary of the company. Post the acquisition, the company will sell 80% of the paid-up equity share capital of MWTESL comprising of 2,40,00,000 equity shares to Blue Planet Environmental Solutions (BPES) or any of its Affiliates (buyer), in one or more tranches at a price of Rs. 8.44 (rounded off) per share (first closing) for an aggregate consideration of Rs. 20.25 crore. The company will have the right of put option to sell the balance 20% stake in MWTESL and BPES will have the call option, after 24 months from first closing, at a price not less than Rs. 8.44 per share, subject to certain closing conditions (second closing). Powered by Capital Market – Live News

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