Dalmia Bharat Sugar and Industries Limited has informed the Exchange about General Updates
DALMIASUG · price
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Dalmia Bharat Sugar has signed a Share Subscription cum Shareholders Agreement to acquire a 51% stake in Eagle Agrotech Holdings Limited (EAHL), a company based in Abu Dhabi, UAE. EAHL is the holding company of Eagle Agrotech Tanzania Limited, which is currently setting up a sugarcane plantation and sugar factory in Tanzania. The total investment is up to US $1 million, payable in cash through a mix of shares and other instruments, priced at face value. The transaction is expected to complete within six months and is not a related party transaction. This marks the company's first international expansion, extending its operations outside India into the African sugar market.
This is a strategic international expansion move, but the investment size is relatively small (around ₹8-9 crore), so the immediate financial impact on earnings will be limited. However, it opens a new growth avenue in the African sugar industry and could be positive for long-term shareholder value if the Tanzania project scales up successfully.