Voltas Ltd has informed BSE that upon receipt of requisite approvals / clearances, the Company has purchased from Fedders International Air-conditioning Pvt Ltd (FIACPL), a subsidiary of Fedders Corporation, USA 1,38,21,000 equity shares of Rs 10 each of Universal Comfort Products Pvt Ltd (UCPL), a 50:50 joint venture company between Voltas and FIACPL, representing their 50% shareholding in UCPL, for a consideration of Rs 312.04 lakhs. The transfer of shares in favour of Voltas Ltd has been approved by the Board of Directors of UCPL on June 17, 2008.

Accordingly, UCPL ceases to be a joint venture company between Voltas and FIACPL and becomes a wholly owned subsidiary of Voltas Ltd effective June 17, 2008. UCPL is engaged in the business of manufacturing Window Room airconditioners and Split air conditioners.