Brigade Enterprises Limited entered into an agreement to acquire Non-Core Asset at Subramanyanagar, Bangalore of Kirloskar Electric Company Limited for INR 550 million.

Brigade Enterprises Limited (BSE:532929) entered into an agreement to acquire Non-Core Asset at Subramanyanagar, Bangalore of Kirloskar Electric Company Limited (BSE:533193) for INR 550 million on January 4, 2019. The transaction is subject to receipt of relevant approvals and is expected to close on or before March 31, 2019. On January 28, 2019, shareholders of Kirloskar Electric Company Limited approved the transaction.