Fox Petroleum Group to invest USD 50 million in Danube Industries
Ahmedabad (Gujarat) [India], July 06: Fox Petroleum Group has announced a proposed investment of USD 50 million in Ahmedabad-based Danube Industries Limited as part of a strategic partnership aimed at supporting the company’s expansion, technology development and business growth plans.Under the proposed arrangement, Fox Petroleum Group will join Danube Industries as a strategic investor and growth partner. The investment will be made in two tranches of USD 25 million each, subject to the completion of corporate approvals and regulatory requirements.The first tranche of USD 25 million will be utilised to strengthen and expand existing operations, while the second tranche will be earmarked for the acquisition of businesses that align with the company’s long-term growth strategy....