Kirloskar Bros acquires ACPL for Rs 57.7 cr

New Delhi, Sep 29 (UNI) Kirloskar Brothers Ltd (KBL) today said it has acquired 100 per cent equity share capital of ''ABAN Constructions Pvt Ltd'', a Chennai-based company, on a debt free basis, for a total consideration of Rs 57.7 crore.

The company has executed the necessary share purchase agreement to this effect, in Chennai.

ABAN Constructions Pvt Ltd (ACPL) belonged to the reputed ABAN group of companies. It will function with the same name and would be a wholly-owned subsidiary of KBL.

ACPL specialises in various construction activities including tunnels, flyovers, and cross country pipelines for oil, natural gas and other infrastructure projects.

The company expects that with the acquisition of ACPL it would be in a better position to supplement its existing set up to work as engineering, procurement and construction (EPC) contractor in respect of various on- going and up coming projects.

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