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Escorts to promote its complete 40.44% stake in Escorts Securities

Escorts, along with other shareholders of Escorts Securities (ESL), have entered into a share purchase agreement (SPA) with Choice Equity Broking (the Acquirer), a wholly owned subsidiary of Choice International, to sell and transfer all of their stake in ESL to the Acquirer, subject obtaining all applicable regulatory approvals.

Upon completion of the above transaction for the purposes of the SPA, Escorts will sell and transfer its entire 40.444% stake in ESL and ESL will no longer be a subsidiary of the company.

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(This story was not edited by Business Standard staff and is automatically generated from a syndicated feed.)

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First published: Thu, April 8th, 2021. 4:05 pm IST