The acquisition is for a cash consideration of Euro 127.5 million (about Rs 1,180 crore), it added. ( Source: File Photo)
Sudarshan Chemical Industries Ltd on Friday said it will acquire global pigment business operations of the Heubach Group of Germany for a total consideration of Euro 127.5 million (about Rs 1,180 crore).
The company has entered into definitive agreement on October 11, 2024, whereby Sudarshan Europe BV, a wholly-owned subsidiary in the Netherlands, will acquire the global pigment business operations of the Heubach Group of Germany, Sudarshan Chemical Industries Ltd (SCIL) said in a regulatory filing.
Click here to connect with us on WhatsApp
The acquisition is for a cash consideration of Euro 127.5 million (about Rs 1,180 crore), it added.
The proposed transaction includes the acquisition of assets and business operations of Heubach Colorants Germany GmbH, Heubach GmbH (c) Dr Hans Heubach GmbH, and Heubach Group GmbH and participations held by Heubach Holding Switzerland AG, in downstream Group Companies in various countries from insolvency administrator in the aforesaid countries, the filing said.
It also includes the acquisition of 100 per cent shareholding of Heubach Holdings S.a.r.l., a Luxembourg-based Heubach Group Company having investments in shareholding in companies based in India and USA.
Heubach is a key player within the speciality chemicals industry which consists of organic pigments, inorganic pigments, dyes, dispersions and anti-corrosion pigments.
The acquisition is expected to close in 3-4 months, subject to the satisfaction of customary closing conditions, including approvals from regulators and SCIL shareholders, the company added.
Post-acquisition, the combined entity will have a comprehensive pigment portfolio of high-quality products and a strong presence in major markets including Europe and the Americas.
It will enhance SCIL’s product portfolio, giving it deeper access to customers and a diversified asset footprint across 19 sites globally, the company said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Oct 11 2024 | 4:35 PM IST
By Companies
Source: Companies