EID Parry sells 47 pc stake in Parryware Roca

New Delhi, Jul 17: EID-Parry (India) Ltd on Thursday, July 17 said it has completed the sale of its 47 per cent stake in Parryware Roca Pvt Ltd for Rs 747.39 crore.

Parryware Roca, an equal joint venture between EID Parry and Spain's Roca, was formed to produce sanitary products. EID Parry has announced in April that it will sell 47 per cent equity holding in Parryware Roca Pvt Ltd to Roca Bathroom Investments, an affiliate of Roca Sanitario, for a consideration of 111.15 million euros. With this transfer EID-Parry's equity holding in Parryware Roca Pvt Ltd is three per cent, a company statement said.

UNI