Completion of the transfer of 22% in “East Pipes” through a deal for 6.93 million shares
Today, East Integrated Pipe Company for Industry received a letter regarding the completion of the transfer of ownership of (6,930,000) shares of the company’s shares, representing 22.0% of the company’s total capital.
The company said in a statement on its website "Saudi Arabia trading": The transfer of shares from Wellspun Mauritius Holdings Limited (seller) to Wellspun Pipe Corporation (USA) (buyer), a company wholly owned by Wellspun Corp. Ltd.
This deal comes within the framework of an internal restructuring of the Wellspun Group, and includes subsidiaries and associates within the group. It does not result in any change in the final control of the company, but it will result in a change in the list of major owners in East Integrated Pipe for Industry.
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