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| Exchange Disseminated Time | Kanoria Chemicals & Industries Ltd has informed BSE regarding a Press Release dated April 20, 2012, titled "KCI to acquire Switzerland based APAG Group".
Press Release:
"Kanoria Chemicals & Industries Limited (KCI) today entered into a Share and Loan Purchase Agreement to acquire APAG Holding AG, the Switzerland based holding company of its wholly owned subsidiary APAG Elektronik AG, Switzerland. As per the terms of the agreement KCI will acquire 90% stake in APAG Holding AG on closure of the transaction for a purchase consideration of CHF 6.39 million. The balance 10% stake will be acquired by 2014 on the basis of a pre-fixed pricing formula. As a part of the transaction, KCI will also take over the loan amounting to CHF 1.30 million provided by the selling shareholders to the group." (For more details kindly refer Corporate Announcements on www.bseindia.com).
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