Falorni Tech Glass Melting Technology
Filtraglass

CAM reacts on Trakya sale of HNG Float Glass to Hindusthan National Glass

A recent release states that Trakya has bought a total of 50% equity stake in HNG Float Glass Limited from Hindusthan National Glass’ 13 other shareholders in the transaction.

“Hindusthan National Glass & Industries Ltd said it has entered into a share purchase agreement for divesting its entire 11.23% holding in HNG Float Glass Limited, which was a joint venture company between Hindusthan National Glass and Turkey-based float glass manufacturer Trakya Cam Sanayii A.S. for a consideration of Rs 129.76 crore”, according to Mint.

According to the release, Trakya bought a total of 50% equity stake in HNG Float Glass Limited from Hindusthan National Glass’ 13 other shareholders in the transaction, valued at Rs 600 crores.

Cyril Amarchand Mangaldas advised Turkish company Trakya Cam Sanayii AS led by a team of partners Smruti Shah, SR Patnaik, Mekhla Anand and Anshuman Sakle.

Sign up for free to the glassOnline.com daily newsletter

Subscribe now to our daily newsletter for full coverage of everything you need to know about the world glass industry!

We don't send spam! Read our Privacy Policy for more information.

Share this article
Related news