East Pipes completes 22% stake transfer to Welspun Pipes Inc

04:18 PM (Mecca time) Argaam
East Pipes said the transaction does not result in any change in the ultimate control of the company

East Pipes said the transaction does not result in any change in the ultimate control of the company

East Pipes Integrated Company for Industry received a letter dated March 24, regarding the completion of the ownership transfer of 6.93 million shares in the company, representing 22% of its total share capital, from Welspun Mauritius Holdings Ltd (the seller) to Welspun Pipes Inc USA (the buyer), a wholly owned subsidiary of Welspun Corp Limited.

 

In a statement to Tadawul, the company said this transaction is part of an internal restructuring within the Welspun Group, involving its subsidiaries and affiliates, and does not result in any change in the ultimate control of the company.

 

However, the move will lead to a change in the list of major shareholders of East Pipes.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.