MUMBAI, Aug 19 (Reuters) - India's Tata Group-owned Titan Co (TITN.NS) will acquire an additional 27.18% of equity shares in its subsidiary CaratLane Trading Pvt Ltd for 46.21 billion rupees ($555.81 million), it said in an exchange statement on Saturday.
Titan has entered into a share purchase agreement to acquire all of the 91,90,327 equity shares held by the founder of CaratLane Trading Private Limited and his family members, representing 27.18% of the total paid-up equity share capital of CaratLane on a fully diluted basis, the release said.
($1 = 83.1400 Indian rupees)Reporting by Swati Bhat; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.
Persons:
Swati Bhat, Kim Coghill
Organizations:
India's Tata Group, Titan Co, Trading, CaratLane, Limited, Thomson
Locations:
MUMBAI, CaratLane