India, April 16 -- DCM Shriram has announced the sale of a 50% stake in its subsidiary, Shriram Polytech Ltd, to Netherlands-based Teknor Apex BV for USD 5.6 million.
Following the transaction, Shriram Polytech will transition from a wholly-owned subsidiary to a joint venture, with DCM Shriram's stake reducing from 100% to 50%.
The company's board has approved the deal, which is expected to be completed by April 23, as per its regulatory filing.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....