February 14, 2025 – Concord Enviro Systems Limited has announced a strategic move to expand its global presence with the incorporation of a wholly owned subsidiary in Uganda. The acquisition falls under SEBI’s Regulation 30 on restructuring and was reported on February 14, 2025, following an event date of February 13, 2025.
Key Transaction Details:
- Acquirer: Concord Enviro (FZE) (Material Subsidiary of Concord Enviro Systems Limited)
- Target Entity: Yet to be incorporated
- Industry: Water Treatment Industry
- Location: Uganda
- Acquisition Cost: ₹50,000 (Cash Consideration)
- Existing Shareholding: 0% (New Incorporation)
- Government/Regulatory Approvals Required: Not applicable
- Transaction Mode: Not structured in tranches
Strategic Rationale:
The acquisition aligns with Concord Enviro’s industrial water and wastewater treatment solutions strategy. Through its wholly owned subsidiary in Uganda, the company aims to expand its footprint in Africa’s growing water treatment sector, catering to industrial clients.Additional Considerations:
- The transaction does not qualify as a related-party transaction.
- No material interest from the promoter, promoter group, directors, or key management personnel (KMPs).
- The acquisition is not classified as being done at arm’s length.