Sezal Glass Sells Unit to Saint-Gobain India

NEW DELHI --Sezal Glass, a glass-processing company, sold its float-glass business to Saint-Gobain Glass India for 6.86 billion rupees ($152.4 million).

The deal was a slump sale,a term that refers to a company selling its assets and liabilities for a single lump sum without assigning separate values to each.*

Sezal Glass, in a notification to the National Stock Exchange, said the sale was approved by the company's shareholders.

The floating glass facility in Jhagadia Industrial Estate in the western state of Gujarat has the capacity to produce 550 million tons of glass a day.

600450 Sezal Glass Sells Unit to Saint-Gobain India glassonweb.com
Date: 31 May 2011
Source: www.online.wsj.com

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