- All
- Important
- Financial Update
- Fund Raise
- Board Meeting
- Dividend/Bonus
- JV/Acquisition
- Investor Meet
- Insider Trade
- Pledging
- Others
Loading...
Lakhotia Polyesters' Board has approved acquiring a 100% stake in New Nexus FZ LLC, a Dubai-based general trading entity. This strategic move aims to expand the company's business into the African Region. The acquisition involves a cash consideration for 100 shares at AED 1,000 per share. Notably, this is a related party transaction involving a promoter, though it is proposed at arm’s length. New Nexus FZ LLC was established in January 2025 and reported nil turnover for FY2025. The transaction is expected to conclude by March 31, 2026, pending necessary approvals.