From Dealroom · · 30s
Omnia Takes Control of Comrade Appliances
Omnia acquires Comrade Appliances for $674,000 in a share deal and stake sale.
In brief
Omnia acquires Comrade Appliances for $674,000 in a share deal and stake sale. Omnia gains control of Comrade Appliances through a $674,000 share issue and 24.30% stake sale. Originally reported by Dealroom.
Control Transfer
Comrade Appliances will issue new shares to Omnia and sell a 24.30% stake to Omnia for $674,000.
Mandatory Open Offer
Omnia's share allotment and stake sale trigger a mandatory SEBI open offer for joint control.
New Management
Omnia becomes the lead shareholder and manager after the open offer completes.
The bottom line
Omnia gains control of Comrade Appliances through a $674,000 share issue and 24.30% stake sale.
