Sona BLW Precision Forgings Limited completed the acquisition of 54% stake in Novelic Doo Beograd-zvezdara for ?40 million.
Sona BLW Precision Forgings Limited (NSEI:SONACOMS) completed the acquisition of 54% stake in Novelic Doo Beograd-zvezdara on September 4, 2023. Total consideration of ?40.097 million will be paid in cash as a deferred payment mechanism as per the terms of the definitive agreement. As per this 60% of which is payable within 10 business days from the date when the ruling on capital increase becomes non-appealable and remaining 40% in 2 yearly tranches of 20% each, as per the terms of the definitive agreement.