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Jain Irrigation to acquire 80% stake in 2 US entitie, stock rallies 9%

Jain Irrigation to acquire 80% stake in 2 US entitie, stock rallies 9%

Wednesday, April 19, 2017, 1:13 PM

Jain Irrigation Systems surged 9% to Rs.108.80 on BSE after the company announced the investment in US largest micro-irrigation dealers AVI & IDC. “The company through its multi-generation wholly owned subsidiary in US agreed to acquire 80% stake in two US entities. The company has entered into an agreement to merge-ownership of their businesses into a newly formed distribution company,” Jain Irrigation Systems said.
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