Oricon Enterprises (OEL) has acquired 70% stake in Oriental Containers (OCL) from its joint venture partners OC Holding, Mauritius, at a consideration of Rs 105 crore. With this, OCL has become OEL’s 100% subsidiary.
Engaged through its subsidiaries in the business of marine logistics, packaging, automobile distribution and petrochemical, OEL has a consolidated turnover of nearly Rs 1000 crore. Also, the company holds nearly three acres of land parcel in Worli, Mumbai, which is slated for development in the near future.
Oricon Enterprises is engaged in the business of manufacturing petrochemical products and developing real estate.