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Pricol
BSE: 540293NSE: PRICOLLTDISIN: INE726V01018

6th-May-2015 10:54Source: BSE

Pricol - Acquisition of 50% shareholding in Johnson Controls Pricol Private Limited, erstwhile Joint Venture Company of Johnson Controls Enterprises Limited, UK and Pricol Limited, India

Pricol Ltd has informed BSE that as per Termination Agreement dated April 15, 2015 between Pricol Limited, Johnson Controls Enterprises Limited, UK (JCEL), Johnson Controls Inc. and Johnson Controls Pricol Private Limited, JCEL sold its 50% of shareholding in Johnson Controls Pricol Private Limited (JCPPL) to Pricol Limited on May 06, 2015 for a consideration of USD 3,151,853.00

Subsequent to the aforesaid acquisition JCPPL became the wholly owned subsidiary company of Pricol Limited.

Johnson Controls Enterprises Limited, UK and Johnson Controls Inc. does not belong to promoter / promoter group / group companies of Pricol Limited and they are not related party and this transaction will not fall under related party transactions.

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