Va Tech Wabag Incorporated A Subsidiary Company In Brazil
Va Tech Wabag Limited has incorporated a subsidiary company in the name of “ Va Tech Wabag Brazil Servicos De Agua Saneamento ltda” with commercial registry, Brazil. Detailed information is annexed below:
|1||Name of the target entity, details in brief such as size, turnover, etc.||VA TECH WABAG BRAZIL SERVICOS DE AGUA E SANEAMENTO LTDA (“WABAG BRAZIL”) paid up capital- 1000 BRL Turnover- Nil (New Company)|
|2||Whether the acquisition would fall within related party transaction(s) and whether the promoter/promoter group/group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at “arm’s length” ||No|
|3||Industry to which the entity being acquired belongs||Infrastructure sector - Construction of Water Treatment Plants/Wastewater Treatment plants and Desalination Plants.|
|4||Objects and effects of acquisition (including but not limited to, the disclosure of reasons for the acquisition of target entity, if its business is outside the main line of business of the listed entity)||Incorporated as a subsidiary of the company for its business purpose.|
|5||Brief details of any governmental or regulatory approvals required for the acquisition||No|
|6||The indicative time period for completion of the acquisition||N.A.|
|7||Nature of consideration -whether cash consideration or share swap and details of the same||Cash|
|8||Cost of acquisition of the price at which the shares are acquired ||BRL 1,000|
|9||Percentage of shareholding/control acquired and/or number of shares acquired|
WABAG BRAZIL is incorporated in Brazil with an initial capital of BRL 1000 divided into 1000 shares of BRL 1 each.
99.90% of the capital held by the Company (999 shares) and remaining 0.10% (1 share) held by an Individual shareholder.
|10||Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, the country in which the acquired entity has a presence and any other significant information (In brief)||WABAG BRAZIL is incorporated in Brazil as a subsidiary of the company on 8th March 2018 with Commercial Registry in Brazil and registered documents obtained on 15th March 2018 and yet to commence its business operations.|