Pipes manufacturer Astral (NSE:ASTRAL, BOM:532830) has signed definitive agreements with the existing promoters and shareholders of AL-AZIZ Plastics to acquire its 100% equity share capital for 330 million Indian rupees, according to a Thursday filing with the Indian bourses.
Astral's board has already approved the transaction, the filing said.
The deal is expected to close by June 30, after which AL-AZIZ will become a wholly owned subsidiary of Astral.
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