PCBL plans to acquire 100% in Aquapharm Chemicals for Rs 3,800 cr
Illustration: Ajay Mohanty
Carbon black and speciality chemicals major PCBL Ltd on Tuesday announced plans to acquire 100 per cent in Aquapharm Chemicals Pvt Ltd (ACPL) for an aggregate consideration of Rs 3,800 crore.
Subject to the agreed adjustment, the acquisition will be financed through a mix of internal accruals and external fundraising by the company and its associates, the company informed the bourses.
This acquisition marks PCBL’s foray into global speciality segments of water treatment chemicals and oil & gas chemicals, the company said.
The transaction will be financed through a combination of internal accruals and external fund raise, it said.
ACPL is a Pune-based globally top three leading specialty chemicals company, manufacturing and water treatment chemicals.
The company has manufacturing facilities in India, the US, and Saudi Arabia. Overseas plants are being operated through subsidiaries.
ACPL topline was Rs 2,045 crore and EBIDTA was Rs 417 crore in 2022-23. The transaction is subject to obtaining all necessary approvals.
The stock closed at Rs 254.90 apiece on the NSE, down 2.6 per cent.
(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: Nov 28 2023 | 8:19 PM IST