Corporate News     13-Dec-17
Board of Singer India approves acquisition of Brand Trading ( India)
At meeting held on 13 December 2017
The Board of Directors of Singer India approved acquiring 10,00,000 equity shares (Face Value Rs. 10 each) of Brand Trading ( India) (BTIL) from BTIndia, a company incorporated in British Virgin Islands ( holding 999,999 equity shares in BTIL) and Singer (Thailand) BV, a Company incorporated in Netherlands (holding 1 equity share in BTIL) at a consideration of Rs. 16.52 per equity share.

The investment which will be subject to any further approvals as may be required once materialized will make BTIL a 100% subsidiary of Singer India.

BTIL was incorporated on 24 June 2005 with a view to carrying on wholesale trading business in India by Singer. This company will be pursuing this business further as a separate 100% arm of Singer India.

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