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| Exchange Disseminated Time | Sadbhav Engineering Ltd has informed BSE that the Company has reached in-principle understanding with Gammon Infrastructure Projects Limited for sale of 1,03,99,500 equity shares of Rs. 10 each held in Mumbai Nasik Expressway Limited for an aggregate consideration of Rs. 72 crores either by itself or through Sadbhav Infrastructure Project Limited (subsidiary of the Company). Detailed agreements will be executed in due course.
Mumbai Nasik Expressway Limited is the special purpose vehicle to develop, operate and manage the Vadape to Gonde section of National Highway no. 3 in the State of Maharashtra. |
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