Asia
LMW Completes Acquisition of Additional Shares in Dubai-Based Subsidiary
Industrial machinery manufacturer LMW (NSE:LMW, BOM:500252) has completed the transaction for the acquisition of additional shares of its Dubai-based wholly-owned subsidiary LMW Holding, according to a Thursday filing to the Indian stock exchanges.In May, the company received board approval to invest up to $30 million more in LMW Holding by acquiring 110,175 shares of 1,000 Emirati dirhams each.The subsidiary plans to use the funds for its capital expenditure and working capital requirements.
BOM:500252NSE:LMW
