Pennar to acquire France-based aerospace machining company Cadnum SARL

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Capital Market
Last Updated : Jul 14 2022 | 4:04 PM IST
Pennar Industries announced that its wholly owned subsidiary, Pennar Gmbh, Germany has entered into share purchase agreement with Serge DUMAS on 13 July 2022 to acquire 100% equity in Cadnum SARL.

Cadnum is an engineering & precision machining company which was established in 1988. The facility is based out of Villebret, France. The acquisition will help Pennar in entry into aerospace OEM supply.

The transaction involves a cash consideration of 1,80,000 Euros (approx. Rs 1.6 crore).

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First Published: Jul 14 2022 | 3:51 PM IST

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