Edition:
India

Metair Agrees With Consortium To End Talks On Potential BEE Transaction


Monday, 2 Jul 2018 

July 2 (Reuters) - Metair Investments Ltd ::UPDATE REGARDING POTENTIAL TRANSACTIONS AND RENEWAL OF CAUTIONARY.IN REGARD TO POTENTIAL BEE TRANSACTION, METAIR HAS MUTUALLY AGREED WITH BEE CONSORTIUM.MUTUALLY AGREED WITH BEE CONSORTIUM THAT IT IS IN BEST INTEREST OF CO TO TERMINATE NEGOTIATIONS RELATING TO POTENTIAL BEE TRANSACTION.POTENTIAL BEE TRANSACTION NOT IN BEST INTEREST OF SHAREHOLDERS AT PRESENT.UNDER CURRENT CONDITIONS, METAIR'S MANAGEMENT FOCUS WILL BE ON "PRESERVING COMPANY'S BALANCE SHEET AND EARNINGS".REGARDING POTENTIAL DEAL, WILL PRESENT A FUNDING STRUCTURE WHICH IS IN LINE WITH ITS STRATEGIC OBJECTIVES. 

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