Suraj Estate to acquire 100% stake in Hally Pacific
Pursuant to the acquisition, Hally Pacific will become wholly owned subsidiary of the company
Suraj Estate Developers has entered into Share Purchase Agreement and invested a total amount of Rs 30.40 crore constituting 100% in the paid-up share capital of Hally Pacific (target entity). The said acquisition will be completed in 30 days from the execution of Share Purchase Agreement. Pursuant to the acquisition, Hally Pacific will become wholly owned subsidiary of the company.
The company is acquiring the target entity for the development of land admeasuring 717.39 Square meters situated at Sayani Road, G/South Ward, Prabhadevi, Mumbai, which is presently owned by the target entity. The company proposes to undertake real estate development on the said plot of land.
Suraj Estate Developers builds and develops real estate, with a focus on best-in-class collaborations and client assurance.
