Voltas to buy JV company

Thebullishtrends : Voltas share price rose by 2.27% and it is trading at Rs243.. Universal Comfort Ltd a 50:50 joint venture between Volta and Fedders International Airconditioners Pvt Ltd, a subsidiarly of Fedders Corportion USA. UCPL is engagged in business manufacturing room airconditioners and split airconditioners and the products marketed by Voltas and Fedders. Fedders have agreed to divest and offer to transfer their 50% of shareholding in UCPL to Voltas. The consideration payable by Voltas upto rs.7.50 cr.