TRF Ltd - 505854 - Announcement under Regulation 30 (LODR)-Diversification / Disinvestment
Further to our letter dated May 17, 2019, intimating the sale/ divestment of the entire shareholding in step down subsidiary Dutch Lanka Trailer Manufacturers Limited(hereinafter referred to as DLT), including its subsidiary Dutch Lanka Engineering Private Limited and 50% stake in Tata International DLT Private Limited (hereinafter referred to as TIDLT), a Joint Venture Company between DLT and Tata International Limited to Canyon Point Investment Holdings Pte. Ltd.(hereinafter referred to as CANYON) vide Share Purchase Agreement (hereinafter referred to as SPA) dated May 17, 2019. CANYON has vide its letter dated September 16, 2019, expressed its inability to complete the transactions as per SPA dated May 17, 2019 citing occurrence of Material Adverse Changes and has terminated the said SPA with immediate effect.17-09-2019