Question : Bank of India will acquire 49% stake in BOI AXA Trustee Services Pvt Ltd(BATS).This acquisition will be done through a SPA. What is a SPA ?
(A)Share Purchase Agreement
(B)Share Plus Arrangement
(C)Share Purchase Adjustment
(D)Share Protection Agreement
Answer (A)
Related facts
- Bank of India has recently(December 2020) announced the acquisition plan of BOI AXA Trustee Services Pvt Ltd(BATS).
- This acquisition will be done through a SPA(Share Purchase Agreement).
- Bank of India will acquire 49% stake in BOI AXA Trustee Services Pvt Ltd(BATS).
- Following the transaction, BOI AXA Trustee Services Pvt Ltd (BATS) – will become Bank of India’s fully owned subsidiary.
- Currently, Bank of India holds 51% equity shares in BATS.
By — Pankaj Pandey.