Tube Investments acquires 77% stake in FC 10 of Sedis Group
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Tube Investments of India (TII) announced that it has acquired 77% controlling stake in Financiere C10 (FC 10), part of the Sedis Group of France, for about Rs 45 crore. The company buys 75% of the stake from financial investors and rest from shareholders. Balance stake will be retained by the management shareholders of Sedis.
Financial advisor to TII in the deal was Kotak Investment Banking, Mumbai.
Sedis is a leading manufacturer of industrial and engineering class chains in France and possesses a product range covering the requirements of a whole range of industries including the high growth infrastructure sector.
TII is a flagship company of the $2.4 billion Murugappa Group. It is engaged in manufacturing of precision steel tubes and strips, car doorframes, automotive and industrial chains and bicycles.
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