PCBL announced acquisition of Aquapharm Chemicals for Rs 3,800 Crore

PCBL announced acquisition of Aquapharm Chemicals for Rs 3,800 Crore
PCBL Limited's Board of Directors has given the green light for the acquisition of 100% of the issued and paid-up share capital of Aquapharm Chemicals Private Limited (ACPL), which amounts to 2,12,172 shares, for a total consideration of 3,800 crores. This acquisition represents the fully diluted basis of ACPL's share capital.
The company signed a share purchase agreement (SPA) on November with ACPL, Vimal V. Mangwani, Dharmesh Mangwani, Nitin Raojibhai Desai and other shareholders of ACPL for the Proposed Transaction. The agreement is subject to obtaining all necessary approvals and fulfilling other customary conditions as per the terms and conditions specified in the SPA.
The company plans to finance the proposed transaction using a combination of internal accruals and external funding from its affiliates or associates. This acquisition of ACPL signifies the company's entry into the global specialty segments of Water Treatment Chemicals and Oil and gas Chemicals, which is the first step towards achieving its vision of creating a diversified and multi-platform global specialty chemical business portfolio.
Aquapharm Chemicals Private Limited reported a consolidated turnover of Rs 2,008.8 crores for the fiscal year ending on March, 2023. The company is privately owned and specializes in manufacturing water treatment solutions for global customers across diverse end markets.
Source: IANS