Gravita Netherlands BV, a subsidiary of Gravita India, plans to acquire an additional 15% stake in Gravita Europe S.R.L., a Romanian waste tyre recycling company
The acquisition involves 3,50,891 shares for 685,000 EUR, increasing GNBV’s shareholding from 80% to 95%. The transaction is expected to complete in about 30 days.
Gravita Europe S.R.L. is a Romanian subsidiary engaged in trading and recycling of waste tyres. The company was incorporated on November 5, 2024.
The transaction has been structured as a non-related party transaction, with no promoter or promoter group interest in the entity being acquired. The company has indicated that the transaction may require certain approvals from local Romanian authorities.
Key regulatory aspects include:
- Compliance with SEBI Regulation 30 disclosure requirements
- Potential approvals from Romanian local authorities
- Transaction falls outside related party transaction framework
The acquisition supports Gravita India’s main business focus on manufacturing and recycling. The company stated that Gravita Europe S.R.L.’s activities are closely related to those of the parent company, particularly in the area of waste tyre recycling in Romania. This investment demonstrates Gravita India’s ongoing growth in European markets through its subsidiaries, further strengthening its position in the international waste recycling sector.
