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Belrise Industries has entered a Business Transfer Agreement to acquire Hyva India's Tipper Body business for $5.65 million (approx. ₹53.82 Crore) on a slump sale basis.
Belrise Industries Limited acquired Hyva India's Tipper Body Business for USD 5.65 million (₹53.68 Crore). The slump sale acquisition includes three manufacturing facilities in India.
Belrise Industries has approved the acquisition of India Tipper Body business from Hyva (India) Pvt. Ltd for ₹54.39 Crore. The slump sale expands Belrise's commercial vehicle portfolio.
Belrise Industries received 'no adverse observations' on its amalgamation scheme with two private firms. The merger is subject to NCLT approval and must comply with SEBI's conditions.