Engineering services firm and rail freight car maker Texmaco Rail & Engineering Ltd is buying its partner UGL’s 50% stake in the Australian joint venture Texmaco UGL Rail Private Ltd for a token amount of Re 1. In a separate development, Safari Industries India has entered into an agreement with Genius Leathercraft to buy its luggage brands including Genius, Magnum, Activa, Orthofit, DBH, Egonauts, Gscape and Genie.
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