Mauritius Based EIG Acquires 2% Stake In McNally Sayaji Engineering
Mauritius based EIG PE has acquired 2% stake in McNally Sayaji Engineering for Rs 1.48 mn from its promoter McNally Bharat valuing the companyat Rs 7.4 cr. Earlier in August, EIG had acquired 9.82% in Sayaji for Rs 7.15 cr valuing it close to Rs 80 cr.
Post deal, McNally Bharat's shareholding in McNally Sayaji Engineering has reduced from 88.07% to 86.05%.
McNally Sayaji Engineering, a subsidiary of McNally Bharat manufactures crushing, screening & milling equipment, pressure vessels, material handling equipment, steel plant equipment, process equipment like flotation cell, thickeners, slurry pumps etc.
Williamson Magor Group company, McNally Bharat provides turnkey solutions in the areas including power, steel, aluminium and material handling among others. Over 300 plants have been constructed on turnkey basis by MBE till March 2009.
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| 1 | October 26, 2010 06:48 AM |
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