Corporate News 02-Dec-23
Board of L G Balakrishnan & Bros approves acquisition of LGB Forge's Pondicherry plant
At meeting held on 02 December 2023
The Board of L G Balakrishnan & Bros at its meeting held on 02 December 2023 has approved to enter into a Business Transfer Agreement (BTA) with LGB Forge Limited (LGBFL) to purchase its Pondicherry Plant, as a going concern, on slump sale basis, for a lump sum consideration of Rs. 15 crore, without values being assigned to individual assets and liabilities, on the terms and conditions more specifically defined in the said agreement.
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