Outcome of Board Meeting - Acquisition of pig iron plant of VSL Steels Limited

• Security Code: 500245
• Company: KIRLFER

Kirloskar Ferrous Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 28, 2016 has granted its in-principle approval for acquisition of movable and immovable assets relating to the pig iron plant of VSL Steels Limited ('the Seller') for a cash consideration of Rs. 155 Crores payable in installments, subject to certain commercial conditions, necessary governmental or regulatory approvals and the approval of the Board of Directors and the shareholders of VSL Steels Limited ("Proposed Transaction").