La Tim Metal & Industries Limited (BSE:505693) agreed to acquire La Tim Sourcing (India) Pvt. Limited for INR 60 million on January 4, 2017. La Tim Metal will pay INR 28 per share. La Tim Metal & Industries will use the proceeds raised from issuing convertible warrants to fund the consideration. After completion, La Tim Sourcing (India) Pvt. Limited will become a wholly owned subsidiary of La Tim Metal & Industries Limited. La Tim Sourcing reported net worth of INR 61.17 million and turnover of INR 664.98 million as of March 31, 2016. The deal is subject to approval of the members in the extra ordinary general meeting and appropriate authorities. The deal is approved by Board of Directors of La Tim Metal & Industries. The deal is approved by shareholders of La Tim Metal & Industries on February 10, 2017. The deal is expected to close in approximately 3 months.