Jain Irrigation Systems stated its international irrigation business will be merged with Temasek-owned Rivulis in a cash-and-stock deal and the blended entity can have a revenue of $750 million.
In the merged entity, Jain Irrigation will hold 22% stake. This transaction will result into huge discount in Jain Irrigation’s consolidated debt by using 45% (Rs. 2,700 crore) and reduce the hobby cost. Potential debt reduction would be tremendous for Jain Irrigation.
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