Readymade Steel India to acquire Singapore-based PSL Holdings’ units

Mumbai-based Readymade Steel India announced that its subsidiary, KH Foges Pte Ltd in Singapore has entered into a conditional sale and purchase agreement with PSL Holdings Ltd for the acquisition of the entire share capital of two of its wholly-owned subsidiaries, PSL Engineering Pte Ltd (PSLE) and Rotary Piling Pte Ltd (RPL).
The aggregate consideration for the acquisition shall be approximately Rs.80 crore to 100 crore. The acquisition is likely to be completed before the end of the year.
PSLE, incorporated in Singapore on 27 October 1984, is a wholly-owned subsidiary of PSL Holdings Limited. PSLE specialises in the provision of micro-piling, civil, mechanical, construction and ground engineering works.
Also incorporated in Singapore on 2 November 1974, RPL is a wholly owned subsidiary of PSL Holdings Limited. RPL is a specialised contractor of bored piling, civil, mechanical and ground engineering works.
Founded in 2006, Readymade Steel India is one of the pioneers in introducing the concept of ready to use steel for the construction industry in the country.

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