India’s Neha International Ltd. has informed that its board of Directors at its meeting held on May 12, 2008, inter alias, has considered the acquisition of two floriculture units in Ethiopia.
These units have 56 hectares of land with 12 hectares growing under green houses. The acquisition will be made through its wholly owned subsidiary in Mauritius.
Neha International Ltd. engages in the production and export of cut flowers in India.
The board expects the deal to be completed by the end of June, 2008.
The stock of the company closed today at Rs 79, up 1% compared with previous close of Rs 78. The stock touched an intraday high of Rs 82 and low of Rs 75.