Landmark Cars Limited has submitted to the exchange that it has entered into a Share Purchase Agreement for the acquisition of the remaining 17% equity shares of Landmark Cars (East) Private Limited. Consequently, Landmark Cars (East) Private Limited will become a wholly owned subsidiary of the Company. The disclosure is attached herewith.
LANDMARK · price
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Landmark Cars Limited has signed a Share Purchase Agreement to buy the remaining 17% equity shares in its subsidiary, Landmark Cars (East) Private Limited. After this acquisition, Landmark Cars (East) will become a wholly owned subsidiary of the company. This is a step towards full consolidation of this subsidiary into the parent. The financial details of the transaction have not been disclosed in this filing.
This is a minor consolidation move that gives Landmark Cars full ownership and control over its East subsidiary, potentially simplifying operations and financials. For shareholders, the impact on stock price is likely limited unless material cash outflow is involved.