Topaz Terrace Investments to acquire 38.51 % stake in Pricol Autotech

The Board of Directors of Pricol Limited has officially approved a share purchase agreement for the acquisition of a 38.51% stake in its wholly owned subsidiary, Pricol Autotech, by Topaz Terrace Investments. Following the completion of an ongoing demerger scheme between Pricol Limited and Pricol Autotech, the parent company will no longer hold shares in the subsidiary.

The agreement includes customary standstill provisions, warranties, and indemnities, alongside non-compete obligations for the sellers and the company for a defined period. The transaction is set to conclude once the demerger scheme becomes effective and the equity shares of Pricol Autotech are listed on the stock exchange.

Upon the finalization of this deal, Topaz Terrace Investments will assume control of Pricol Autotech, and the current sellers will relinquish their control over the entity.