The B K Goenka-led Welspun Gujarat Stahl Rohren is learnt to be in talks to buy a tad over 50 per cent stake in the Saudi Arabia-based Aziz Pipe Company for an estimated Rs 260 crore. “Welspun Gujarat is in final stages of negotiations with Aziz Pipe to buy a little more than 50 per cent stake in the firm for Rs 250-260 crore,” a person in the know of the development said. The valuation of the Saudi firm is around Rs 500 crore.
Neither Welspun group spokesperson Akhil Jindal nor officials from Aziz Pipe could be reached for comments.
