12 March 2022, Mumbai:
Tata group firm Titan Company on Friday said its subsidiary has inked a pact to acquire 17.5 per cent voting rights in US-based Great Heights Inc for USD 20 million (around Rs 152 crore).
ALSO READ: Titan Q3 FY22 Results
TCL North America Inc (TCLNA), a wholly-owned subsidiary of the company, has signed a stock purchase agreement with Great Heights Inc for a subscription of shares with voting preferred stock in the capital stock of Great Heights, the jewellery and watch maker said in a regulatory filing.
As per the pact, TCLNA would hold up to 17.5 per cent voting rights in Great Heights, it added.
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CREDITS: ET.
