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Thursday, May 28, 2020

Canyon buys Tata International DLT, DLTM for Rs 305 cr

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Canyon buys Tata International DLT, DLTM for Rs 305 crTata International Limited and Dutch Lanka Trailer Manufacturers(DLTM) have executed definitive documents to sell their 50-50 joint venture Tata International DLT Pvt Ltd (DLT) to Canyon Point Investment Holdings.

Singhi Advisors said in a parallel transaction TRF Limited, through its affiliate, has also executed definitive documents to sell its 100 per cent stake in DLTM to Canyon Point. TRF Limted is a part of the Tata Group of Companies.

Singhi Advisors acted as the sole advisor to Tata International and TRF for these divestments.

The total deal value of both the transactions put together is Rs 305 crore, subject to adjustment of actual debt in DLTM, the company said in a statement to exchanges late Friday evening.

Tata DLT’s product portfolio comprises of a wide range of trailers, semi-trailers, tippers and vehicle carriers. DLTM, together with its subsidiaries, designs and manufactures trailers and semi-trailers for transport and logistic applications.

IANS

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