Kothari Industrial Enters Slump Sale Deal to Acquire Parveen Roadways

MT Newswires Live

04-09

Kothari Industrial (BOM:509732) said Tuesday it signed a slump sale agreement to acquire sole proprietorship firm Parveen Roadways, according to a same-day BSE filing.

The company in February agreed to acquire a 100% stake in the logistics and transportation firm for 240.4 million Indian rupees.

A slump sale refers to the transfer of a business as a whole, including assets and liabilities, for a lump sum.

Shares of Kothari Industrial were up 2% in recent trading.

Price (INR): ₹222.50, Change: ₹+4.3, Percent Change: +1.99%

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