Tadano Ltd. have agreed in principle to acquire 49% stake in Tadano Escorts India Private Limited from Escorts Kubota Limited for INR 0.1 million.

Tadano Ltd. (TSE:6395) have agreed in principle to acquire 49% stake in Tadano Escorts India Private Limited from Escorts Kubota Limited (NSEI:ESCORTS) on September 15, 2022. As on November 4, 2022, Tadano Ltd. (TSE:6395) entered into agreement for sale to acquire remaining 49% stake in Tadano Escorts India Private Limited from Escorts Kubota Limited (NSEI:ESCORTS) for INR 0.1 million. Escorts Kubota to sell 7,27,65,000 fully paid-up equity shares of INR 10 each of Tadano Escorts India Private Limited.

Tadano Escorts India Private Limited reported Turnover of INR 324.3 million and a Total common equity of INR -195.4 million. The transaction was approved by Escorts Kubota Limited Board of director's. The transaction is expected to close on November 9, 2022.