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The acquisition aims to expand Highway Holdings' presence in the European metal fabrication market.
Highway Holdings Limited (HIHO) announced the signing of a Letter of Intent (LOI) to acquire a 51% stake in Regent-Feinbau, a German metal components manufacturer. The transaction is expected to enhance Highway Holdings' capabilities in the metal fabrication sector.
The LOI outlines the acquisition of a majority 51% stake in Regent-Feinbau. Further details regarding the financial terms and completion timeline of the acquisition will be disclosed upon finalization of the agreement.
As of the latest available data, Highway Holdings has a free float of 2,820,900 shares and 4,601,800 shares outstanding.
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