India, Sept. 16 -- Empower India Limited has entered into an indicative, non-binding term sheet with Mark AB Capital Private Limited to acquire 100% of the equity share capital of Valiance Engineers Private Limited.
The proposed transaction will be structured as a 100% non-cash share swap, through the preferential allotment of fresh equity shares of Empower India. Following completion, Valiance Engineers would become a wholly owned subsidiary of Empower India.
Valiance Engineers, including its wholly owned US subsidiary Lauren Engineers & Constructors Inc., has operations across realty, civil, oil & gas and public infrastructure. The acquisition would provide Empower India access to engineering capabilities in areas such as modularisation...