TRF announced that Canyon Point Investment Holdings has communicated vide letter dated 16 September 2019 its inability to complete the transactions as per the share purchase agreement (SPA) dated 17 May 2019 citing occurrence of material adverse changes and has terminated the said SPA with immediate effect.
Earlier, TRF had announced the divestment of the entire shareholding in step down subsidiary Dutch Lanka Trailer Manufacturers (DLT), including its subsidiary Dutch Lanka Engineering and 50% stake in Tata International DLT, a joint venture company between DLT and Tata International to Canyon Point Investment Holdings vide SPA dated 17 May 2019.
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