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Atlas Copco Closes Deal

Atlas Copco closed the deal made in April 2002 and sold its 40 percent shareholding in mining equipment manufacturer Revathi Equipment Limited, India, to Utkal Investments.

The total consideration was MSEK 78 generating a profit before tax of MSEK 30. Revathi, with annual revenues of approximately MSEK 100 in 2001, is listed on the Mumbai Stock Exchange. In April, Utkal Investments announced its agreement with Atlas Copco and made an offer to the other shareholders in Revathi in accordance with Indian regulations. Closing took place when these procedures were finalized and after approval from Indian authorities.

TAGS: Ar Syndicate
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