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Binani Industries Ltd Announces Transfer Of Balance 51% Shareholding In Goa Glass Fibre Ltd. To 3B Binani Glassfibre S.a.r.l, Luxembourg

Wednesday, 12 Dec 2012 05:03am EST 

Binani Industries Ltd announced that on December 11, 2012 the Company has transferred the balance 51% shareholding in its subsidiary, Goa Glass Fibre Limited (GGFL), to 3B Binani Glassfibre S.a.r.l, Luxembourg, a Wholly Owned Subsidiary of the Company. The Company had already transferred 49% stake in GGFL on March 31, 2012 to 3B Binani Glassfibre S.a.r.l. Consequently, GGFL has ceased to be a direct subsidiary of the Company and become a Wholly Owned Subsidiary of 3B Binani Glassfibre S.a.r.l. As such, GGFL has now become a step down subsidiary & the Company. 

Company Quote

-0.75 -0.73%
4:36am EST