38 C
Thursday, May 28, 2020

Canyon buys Tata International DLT, DLTM for Rs 305 cr

- Advertisement -

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.


Follow Us For Latest Updates -

Related News


Please enter your comment!
Please enter your name here

Trending Topics

Covid 19 India Updates

GSK to produce 1bn doses of Covid-19 vaccine booster next year

London, May 28 (IANS) Pharmaceutical giant GlaxoSmithKline on Thursday said it plans to produce 1 billion doses of coronavirus vaccine adjuvant, an ingredient that...

Trending Right Now

1 in 10 jobseeker lost job, most think layoff imminent: Naukri.com

New Delhi, May 28 (IANS) At least 1 in 10 Indian jobseeker has confirmed he or she has been laid off and nearly three...