Ruchi Soya Industries has acquired the oil refining business of its group company Ruchi Infrastructure being run at Kakinada in Andhra Pradesh for Rs 44 crore. The oil refinery business of Ruchi Infrastructure includes land, building, the refinery plant and its associated facilities, oil storage tanks, the net current assets and long term foreign currency loans and other facilities.
The oil refining business was transferred with effect from September 1, 2014. The change in valuation on account of adjustment for value of assets and liabilities will be carried out by competent authorities in the due course.
Ruchi Soya is India’s leading FMCG Company, India’s number one cooking oil and soy food maker and marketer. It is also the highest exporter of soya meal, lecithin and other food ingredients from India.
