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On Thursday, Havells India said that it has decided to sell 80 percent stake in its wholly owned subsidiary based in Republic of Malta.
The company has said in a filing that “Havells India has received an intimation from its wholly-owned subsidiary, Havells Holdings Ltd, that it proposes to enter into definitive agreement with Shanghai Feilo Acoustics Co Ltd to divest 80 per cent stake in Havells Sylvania Malta BV, subject to shareholders and related approvals”.
Havells India also proposed to divest 80 percent stake in Havells Exim Ltd, Hong Kong, its wholly owned subsidiary.
The company will sell 80 percent each in Havells Malta BV and Havells Exim, Hong Kong.
