Thermax To Acquire Stake Of Babcock & Wilcox In JV
2018-05-19 Merger and Acquisitions Engineering Western India
Thermax Limited has informed that the board of directors of the company at its meeting approved to enter into a preliminary understanding with Babcock & Wilcox India Holdings Inc. (B&W) to acquire the shareholding of the latter in the JV, Thermax Babcock & Wilcox Energy Solutions Private Limited (TBWES). The transaction will provide Thermax access to the manufacturing facility of TBWES and also to a wider range of B&W technologies. The parties are working towards a definitive agreement to conclude the transaction.