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Sadbhav to acquire 74% stake in Hong Kong firm
New Delhi, June 9 (UNI) Civil enigineering construction firm Sadbhav Engineering Ltd today said it has entered into an agreement to acquire 74 per cent stake in Hong Kong-based Ocean Bright Corporation Ltd (OBCL) through its subsidiary.
The Ahmedabad-based firm's subsidiary Sadbhav Natural Resources Pvt Ltd will buy the stake, company said in a statement without disclosing the amount.
OBCL, through directly and its units, hold prospecting rights and licences for iron ore, copper, limestone and coal in Mozambique, the statement added.
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Story first published: Wednesday, June 11, 2008, 13:38 [IST]
