Unimech Aerospace Completes Acquisition of Hobel Bellows Co., Structuring Subsidiary Relationships
Unimech Aerospace and Manufacturing Limited has completed its acquisition of Hobel Bellows Co., a Partnership Firm, which was facilitated through Hobel Bellows Private Limited. The company confirmed that it, along with its wholly owned subsidiary, Innomech Aerospace Toolings Private Limited, has fully paid and settled the entire consideration for the transaction.Following the completion of the acquisition, the corporate structure solidified with Unimech Aerospace and Manufacturing Limited acquiring a 24% shareholding in the Target Company. Innomech Aerospace Toolings Private Limited, the wholly owned subsidiary, acquired the remaining 76% shareholding.
This transaction establishes Hobel Bellows Co. as a subsidiary of Innomech Aerospace Toolings Private Limited. Innomech Aerospace Toolings Private Limited, in turn, acts as the step-down subsidiary of Unimech Aerospace and Manufacturing Limited, which serves as the ultimate holding company. The acquisition was completed in strict accordance with the terms and conditions outlined in the definitive agreements.
UNIMECH Stock Price Movement
Unimech Aerospace and Manufacturing Limited shares are edging higher to ₹1026.75 as of 12:16 PM today, rallying 3.20% in live trading. The stock is experiencing brisk activity, with 51,972 shares transacted in the live market so far.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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