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| Exchange Disseminated Time 12/08/2015 13:24:22 | With reference to the earlier letter dated May 12, 2015 intimating that Jubilant Agri and Consumer Products Limited (“JACPL”), a wholly owned subsidiary of Jubilant Industries Limited (the “Company”), had entered into a Business Transfer Agreement to transfer its retail hypermarket business undertaking consisting inter alia of 4 (four) hypermarket stores in Bengaluru, India along with certain specified assets and liabilities (“Retail Undertaking”) as a going concern to Aditya Birla Retail Limited (“Buyer”) [“the Transaction”], In this regard, Jubilant Industries Ltd has now informed BSE that the Retail Undertaking has been transferred to the Buyer with effect from opening of business hours on August 12, 2015, post receipt of all necessary regulatory and third party approvals, including the approval of the Competition Commission of India.
The Proceeds from the transaction would be utilised for reducing the debt of JACPL. |
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