MTAR Tech to Gee Pee Aerospace & Defence | Parvat Srinivas Reddy, MD, MTAR Technologies | ET Now
MTAR Technologies plans to acquire Gee Pee Aerospace & Defence, an MSME, for Rs 8.82 crore. The acquisition is expected to provide a wide array of benefits under the MSME category, including the increased potential of entering into offset partnership with global OEMs, as foreign partners get an offset credit of up to 1.5 multiple on Indian content, said. Announcing that its board has approved the acquisition of shares, MTAR said it is currently in discussion with the shareholders of Gee Pee on the terms and conditions.
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