Sakthi Sugars executes BTA for sale of Sugar and Distillery Units in Dhenkanal to Indian Potash

27 Jun 2022 Evaluate

Sakthi Sugars has executed a Business Transfer Agreement (BTA) for sale of Sugar and Distillery Units in Dhenkanal, Orissa State to Indian Potash, Seethakathi Business Centre, Anna Salai, Chennai (Purchaser) on a going concern on an 'As Is Where Is What Is' basis by way of a slump sale and specifically include the Assets, Liabilities and the Agreed Liabilities, except contingent Assets and contingent Liabilities, for a consideration of Rs 134.10 crore.

The Purchaser will participate in the management and operations of the Dhenkanal Units immediately on the execution of the BTA. The effective date of the Business Transfer Agreement is July 1, 2022 and the closing date of the transaction, after fulfilling the conditions precedent to closing, will be prior to September 30, 2022.

Sakthi Sugars is one of the largest producers of sugar in India. The products manufactured by the company includes White Crystal Sugar of grade S30, M30 and L 30.The By products include Molasses,Baggasse and Bio Compost. The company also in the business activities of Sugar, Power, Soya Products, Industrial Alcohol.

Sakthi Sugars Share Price

28.86 -0.23 (-0.79%)
24-Jan-2025 11:03 View Price Chart
Peers
Company Name CMP
Shree Renuka Sugar 37.78
Bajaj Hindusthan Sug 28.66
Balrampur Chini Mill 478.50
Triveni Engg. & Inds 382.70
Dalmia Bharat Sugar 362.20
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