Pincon Spirit inks MoU to take over Bacchus Enterprises

30/09/2016 16:50

Pincon Spirit Ltd on Friday said that it has signed a Memorandum of Understanding (MoU) for taking over Ludhiana-based Bacchus Enterprises Ltd.

Bacchus Enterprises is engaged in the business of Indian Made Indian Liquor (IMIL) (County Spirit) and Indian Made Foreign Liquor (IMFL).

In a filing to the Bombay Stock Exchange, Pincon Spirit said, “The company has signed a Memorandum of Understanding for taking over Bacchus Enterprises Limited based in Ludhiana engaged in the business of Indian Made Indian Liquor (IMIL) (County Spirit) and Indian Made Foreign Liquor (IMFL).”

Meanwhile, shares of the company closed at Rs 72.10 apiece, up 5.95 per cent, from previous close on BSE.

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