TRF to acquire 51% stake in Singaporean firm

TRF to acquire 51% stake in Singaporean firm


Mumbai: TRF Ltd, a Tata group company, has entered into an agreement to buy 51% paid -up share capital of YORK Transport Equipment (Asia) PTE Ltd from Singapore-based Baker Technology for an undisclosed sum.

The board of directors of the domestic firm at its meeting recently approved the share purchase agreement including shareholders’ agreement for the said acquisition in the Singaporean company, TRF said informed BSE.

TRF, however, did not disclose any financial details of the deal. The company is one of the leading provider of engineering equipment, systems and services. It manufactures bulk material handling and processing equipment.

Shares of TRF were trading at 1,059.95, up 0.55% on BSE in morning trade.