Will Colombo foray help Tube In­vest­ments?

The Hindu Business Line - - STOCKS -

Tube In­vest­ments of In­dia on Thurs­day en­tered into sep­a­rate share­hold­ers’ agree­ments with Shuyuan Gan, pro­moter and 100 per cent share­holder of Great Cy­cles (Pri­vate) Ltd and Cre­ative Cy­cles (Pri­vate) Ltd — both Colombo-based (Sri Lanka) com­pa­nies. It will ac­quire 80 per cent of the is­sued and sub­scribed share cap­i­tal of the two com­pa­nies for $3.34 mil­lion. In­vestors of Tube In­vest­ments will closely mon­i­tor the de­vel­op­ment.

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