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Jindal photo acquires stake in Paris-based software publishing

Written by: Staff
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New Delhi, July 6 (UNI) Jindal Photo Ltd today announced it acquired Paris-based software publishing Coheris for 3.5 million Euros through investment in its Special Purpose Vehicle (SPV), Jindal France SAS.

The company has invested for the purpose 2.8 million Euros in Jindal France by way of subscription to 2.8 million shares of Euro 1 each, constituting 38.74 per cent of its increased share capital.

One of the other group companies has also made an investment of Euro 0.7 million towards subscription to 0.7 million shares of Euro 1 each.

The aggregate equity amount together with loan has been utilised by the said SPV for the purpose of acquiring strategic stake in Coheris SA, a company statement here said.

Meanwhile, the company has also filed an appeal together with a stay application with the Commissioner of Sales Tax, 'Dadra and Nager Haveli' against an order of the Assessing Authority demanding Rs 15.89 crore towards Central Sales Tax and Rs 6.99 crore towards interest and penalty.

UNI CS VJ BST1525

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