Corporate News 01-Dec-17
Asahi India Glass to make strategic investment in Timex Group Precision Engineering
By March 2018
Asahi India Glass has agreed to make a strategic investment in Timex Group Precision Engineering (TGPEL) (a 100% Subsidiary Company of Timex Nederland B.V.) by acquiring and/ or subscribing to equity shares of TGPEL by March, 2018, to be held through a proposed joint venture company, Scopfy Components, which is being formed along with other investors. Towards this end, the Company has entered into Share Purchase Agreement on 30 November, 2017 to acquire equity shares as on date from the promoters and other existing shareholders.
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