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Rs 20.50

Terra acquires a significant part of United Investments Limited (UIL)

14 February 2014

Terra has acquired a significant stake of United Investments Limited (UIL), a company operating in several sectors such as financial (AXYS Group, New World Trust), manufacturing (Island Fertilizers and Pelagic Process Group Ltd), commercial (Mecom Group and the Industrial Gas) technology (Megabyte Ltd), and hotel (Attitude Resorts Ltd). This acquisition demonstrates the ambition of the Group to diversify its activities.

The intention of Terra, announced last October, to redeem the shares held by GML in UIL has been confirmed. This strategic acquisition, which makes UIL an associated company, allows Terra to make an entry in key sectors of Mauritius, such as hotels (Attitude Resorts) and trust (Trust Group New World), but also to benefit from expertise and services companies such as AXYS Leasing, MECOM Island and Fertilizers.