Sesa Goa Ltd has informed BSE that pursuant to the approval of Board of Directors of the Company at its meeting held on June 11, 2009, the Company has signed a definitive Share Purchase Agreement under which Sesa has acquired all the outstanding common shares of V S Dempo & Co. Pvt. Ltd ("VSD") which in turn, also holds 100% equity shares of Dempo Mining Corporation Pvt. Ltd and 50% equity shares of Goa Maritime Pvt. Ltd for a total consideration of Rs 1,750 crores, on a debt-free and cash-free basis, and includes working capital of Rs 145 crores.
Further, the Company has informed that the Board of Directors, at its meeting held on June 11, 2009, approved Preferential Offer to Promoters and / its associates, in terms of Chapter XIII of SEBI (Disclosure and Investor Protection) Guidelines, 2000, subject to approval of shareholders under Section 81(1A) of the Companies Act, 1956 at the Extraordinary General Meeting of the Company to be held on July 09, 2009.
Source: Bseindia.com