United Spirits to buy JP Impex Incorp’s Karnataka-based assets1 min read . Updated: 14 Jul 2014, 09:06 PM IST
The purchase of the assets will facilitate an increase in the United Spirit's licensed IMFL production capacity in the state
New Delhi: Liquor firm United Spirits Ltd (USL) has inked a pact to buy JP Impex Incorp’s Karnataka-based assets—including plant and machinery—for Rs11.5 crore, enhancing its liquor manufacturing capacity in the state.
The company has entered into an asset purchase agreement with JP Impex lncorp, a partnership firm, for purchasing the building, plant and machinery, licences, transfer of lease hold rights on the land, all relating to the factory, USL said in a filing to the BSE.
“The purchase of the above assets...would facilitate an increase in the company’s licensed Indian Made Foreign Liquor (IMFL) production capacity in Karnataka, which the company proposes to use for Tetra Pak production and availing logistical advantage," it added.
The USL scrip closed at Rs2,333.10, up 1.67%, on the BSE on Monday. PTI