APAR Industries Limited, a prominent player in the conductor and cable industry, has announced the incorporation of a new wholly-owned subsidiary, APAR Industries LATAM LTDA, in Brazil.
The acquisition is a related party transaction, but not material. The subsidiary has yet to start operations and requires further approvals. APAR Industries Limited will own 100% of the share capital that has yet to be subscribed. The cost of acquisition is Brazilian Reals 120,000.
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Key Details:
- Subsidiary Name: APAR Industries LATAM LTDA
- Industry: Trading of conductors
- Cost of acquisition: Brazilian Reals 120,000 (120,000 shares of Brazilian Reals of 1 each) by way of subscription to the share capital, which is yet to be subscribed.
- Percentage of shareholding: APAR Industries Limited shall hold 100% of the share capital of the WOS, which is yet to be subscribed.
