27.8 C
Powai
Thursday, September 29, 2022

Buy now

Board of Forbes approves signing of MoU for sale of Chandivali land for Rs 200 cr

The Board of Forbes & Company at its meeting held on 22 December 2020 has approved entering into Memorandum of Understanding (MOU) with GPX India (GPX) and Equinix India (Equinix) (upon Equinix exercising its right of substitution/step in) (together the ‘Purchaser’) for sale of approximately 3.804 acres of land at Chandivali for a consideration of Rs. 200 crores (Proposed Transaction).

The MOU is terminable at the option of GPX. The Agreement for Sale is expected to be executed by 31 January 2021 and the completion of the Proposed Transaction subject to due diligence, execution of definitive documents, fulfilment of various condition precedents, is expected to be completed in March’ 2021.

GPX and Equinix are not related parties to the Promoters/Promoter Group/Group Companies of the Company and the Proposed Transaction is not a related party transaction. There will be no change in shareholding of the Company as part of the Proposed Transaction.

Powered by Capital Market – Live News

Source: https: //www .business-standard.com /article/news -cm/board-of-forbes-company-approves-signing-of-mou-for-sale-of-land-for-rs-200-cr-120122300321_1.html

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Related Articles

Chandivali MHADA’s rain flood problem was solved by the efforts of corporator Smt. Chitra Somnath Sangle.

Chandivali MHADA's rain- flood problem solved by the efforts of SHIV SENA Corporator Smt. Chitra Somnath...

Bmc Hospital opening soon in Chandivali by great efforts of Corporator Smt. Chitra Sangle

Bmc hospital is opening soon in Chandivali by great efforts of BMC Councillor Smt. Chitra Sangle .

4 Powai Shops Robbed on 1st day of 2021

Four Powai Shops locks were broken and cash kept in the shops were robbed on the night of 1st January 2021 at...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

22,043FansLike
0FollowersFollow
0SubscribersSubscribe
- Advertisement -

Latest Articles

Chandivali MHADA’s rain flood problem was solved by the efforts of corporator Smt. Chitra Somnath Sangle.

Chandivali MHADA's rain- flood problem solved by the efforts of SHIV SENA Corporator Smt. Chitra Somnath...

Bmc Hospital opening soon in Chandivali by great efforts of Corporator Smt. Chitra Sangle

Bmc hospital is opening soon in Chandivali by great efforts of BMC Councillor Smt. Chitra Sangle .

4 Powai Shops Robbed on 1st day of 2021

Four Powai Shops locks were broken and cash kept in the shops were robbed on the night of 1st January 2021 at...

Board of Forbes approves signing of MoU for sale of Chandivali land for Rs 200 cr

The Board of Forbes & Company at its meeting held on 22 December 2020 has approved entering into Memorandum of Understanding (MOU)...

IIT-Bombay Gears Up For Virtual Avatar Of Its Techfest

AMID the unprecedented turn of events triggered by the pandemic, the IIT-Bombay will hold its annual technology festival - Techfest - on...