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BRIEF-Cravatex Ltd approves subscription and shareholders deal among co, unit, & investor
March 23, 2017 / 10:49 AM / 6 months ago

BRIEF-Cravatex Ltd approves subscription and shareholders deal among co, unit, & investor

March 23 (Reuters) - Cravatex Ltd:

* Approved execution of a binding SSHA among co, unit CBL and investor Paragon Partners Growth Fund

* Took note of proposed investment by the investor in CBL

* CBL will become unit from a wholly owned unit of co owing to investor holding minority equity stake in CBL at completion of investment

* To provide co's properties at Nariman point and Prabhadevi to banks as security against granting credit facility to CBL for up to 1 billion rupees Source text: bit.ly/2nV1exB Further company coverage:

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