IID Forgings to acquire 2 overseas cos

IID Forgings Limited has decided to acquire Park Investments Ltd and Cyberlog Technologies International Pte Ltd.

Looking to tap the overseas market alloy steel maker IID Forgings Limited has decided to acquire Hongkong-based Park Investments Ltd and Singapore-based Cyberlog Technologies International Pte Ltd.

HT Image

The board at its recently held meeting approved the acquisition of 100 per cent shares of Park Investments as well as of Cyberlog Technologies, the company informed the stock exchanges.

However, the financial details of the purchase were not disclosed.

A draft Scheme of Amalgamation for merger of logistics services provider BDP India Pvt Ltd with the company was also approved at the meeting, subject to approval of Bombay Stock Exchange, shareholders and sanctions of the High Court.