Live
- Thomas Cook India launches 'TCPay' for international money transfers
- SC disposes of Hemant Soren’s plea seeking interim release
- ‘HanuMan’ conquers the small screen, achieves record-breaking TRP rating
- Suspected thief falls from terrace in Delhi, dies
- Heavy rain in Bengaluru to ease water crisis
- ‘We feel unsafe in AIFF’, female staff levels serious charges against senior Federation officials
- BC Spiritual Meeting in Polavaram Constituency Draws Support for Jagan's Administration
- In 35 cases, the police caught the thief who was stealing in broad daylight
- Chandrababu Naidu flays YCP govt., asks people to vote for TDP for development
- A successful blood donation camp
Promoters to buy 2% shares from JC in Amara Raja
Amara Raja Batteries Limited, Johnson Controls International, Jayadev Galla, Power Solutions Business, Hyderabad
Hyderabad: Amara Raja Batteries Limited (ARBL), on Wednesday said that Johnson Controls International (JC) and the Galla Family reached an agreement by which Galla Family would acquire 2 per cent equity shares of the company from Johnson Controls.
JC and Galla family currently hold 26 per cent shares each in ARBL. Upon purchase of the 2 per cent shares, Galla family will increase their holding in ARBL to 28 per cent.
Consequently, JC and Galla Family agreed to terminate the shareholders and other allied agreements with effect from April 01, 2019.
Jayadev Galla, VC and MD, ARBL said: "JC has been considering various strategic options to restructure their Power Solutions business and in November 2018 announced their intent to sell the Power Solutions business to Brookfield.
