The two companies Tavex Algodonera SA and Brazilian textile group Santista Textil informed that they have reached a mutual agreement with respect to integration of the two companies.
Camargo Correa and Sao Paulo Alpargatas who presently own Santista Textil, hold 81.6 percent share in the company jointly.
These 81.6 percent share of Santista Textil will be transferred to Santista Espana, a newly formed Spanish company which in turn will be fully acquired by Tavex.
On completion of the amalgamation process, Camargo Correa will hold 36.7 percent of Tavex Algodonera SA whereas Alpargatas, 22 percent. Tavex Algodonera SA
marketing@alchempro.com
