Pursuant to Regulation 30 of SEBI LODR Regulations, 2015, please find attached intimation with respect to material modification of related party transaction entered into pursuant to the ....
COCKERILL · price
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John Cockerill India Ltd's board approved modifications to the Share Purchase Agreement for acquiring 100% stake in John Cockerill Metals International SA, Belgium from its parent John Cockerill SA. The revised purchase price is €24.32 million, to be paid via €5 million cash (for 20.56% stake) by June 30, 2026, and share swap (for 79.44% stake) involving 35,185 Non-Cumulative Compulsorily Convertible Preference Shares worth approximately INR 204.17 crore. Each CCPS is convertible into 10 equity shares within 18 months. The transaction is a related party transaction conducted at arm's length, subject to shareholder and regulatory approvals. The 40th AGM is scheduled for June 25, 2026.
This acquisition consolidates the global metals business of John Cockerill Group into the Indian subsidiary, potentially strengthening the company's portfolio. Post conversion of CCPS, promoter John Cockerill SA's stake will increase from 70.33% to 72.30%, which is slightly dilutive for minority shareholders.