Wire and cable manufacturer R R Kabel (NSE:RRKABEL, BOM:543981) agreed to acquire the business undertaking of Usha Martin (NSE:USHAMART, BOM:517146) unit, U M Cables, for 770 million Indian rupees.
The acquisition will take place through a slump sale on a going concern basis, according to a Friday filing with the Indian bourses
U M Cables engages mainly in the manufacture and sale of optical fiber and related cables.
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