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| Exchange Disseminated Time | Marsons Ltd has informed BSE that Marsons are in final stages of discussion for taking over a considerable stake in a Dubai based LLC Trading Company for amount of USD 5 million dollars. The said trading company is having a strong presence in the Middle East and GCG region which will benefit Marsons to explore the lucrative market of the region. The said trading company is quite active in Iraq which is a highly potential market for transformers. Hence with the acquisition of considerable stake in the said trading company, Marsons will benefit immensely.
Further, Marsons plan to set up a manufacturing base in UAE region with the help of the said trading company wherein Marsons will hold a considerable stake post the acquisition.
Marsons have already started the due diligence process internally and very shortly are going to appoint a local Chartered Firm for completing the due diligence process enabling us to complete the acquisition of the said Dubai base LLC trading company. |
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