Sudarshan Chemical Industries on Friday announced that it has entered into a definitive agreement to acquire global pigment business operations of the Heubach Group, for 1,180 crore, by its wholly owned subsidiary.
In a regulatory filing, Sudarshan Chemical said, “We wish to inform you that Sudarshan Chemical Industries Limited (the Company / SCIL) has entered into definitive agreement on 11th October, 2024, whereby Sudarshan Europe BV, wholly owned subsidiary of the company in Netherlands (SEBV Europe) shall acquire global pigment business operations of the Heubach Group of Germany for a total consideration of Euro 127.5 million (approx. Rs 1,180 crore).”
The proposed transaction comprises of acquisition of Sudarshan Europe BV of:
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(i) assets and business operations of (a) Heubach Colorants Germany GmbH, (b) Heubach GmbH (c) Dr Hans Heubach GmbH, and (iv) 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.
(ii) 100% shareholding of Heubach Holdings S.a.r.l., a Luxemburg 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.
Post-acquisition, it said, 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. Per the information shared by the company, the acquisition is expected to close in 3-4 months.
Heubach had recorded a revenue of over a billion euros in FY21 and FY22, with a strong global footprint especially in Europe, Americas, and the Asia Pacific region.
From: financialexpress
Financial News
