As part of its corporate restructuring initiative, Delhi-based flexible packaging company Uflex Ltd on Friday transferred 75 per cent shareholding in its American unit, Flex Films (USA) Inc, to wholly-owned Flex Middle East FZE, Dubai.According to R.K. Jain, Group President, the remaining 25 per cent stake will also be transferred this fiscal.The transaction, aimed at converting Flex Middle East into a holding company for overseas operations spread over Dubai, Egypt, Poland, Mexico and the US, may fetch nearly $35 million (Rs 220 crore) to Uflex.

Source : http://www.thehindubusinessline.com/todays-paper/tp-corporate/uflex-transfers-75-stake-in-us-unit-to-dubai-arm/article5381592.ece

 

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