Jubilant Industries’ wholly owned subsidiary - Jubilant Agri and Consumer Products (JACPL), has agreed to transfer its retail hypermarket business undertaking consisting inter alia of four hypermarket stores in Bengaluru, India along with certain specified assets and liabilities including dedicated employees, contracts, licenses, permits, consents and approvals relating to this undertaking as a going concern to Aditya Birla Retail by way of a slump sale by way of Business Transfer Agreement dated May 12, 2015.
The transaction is expected to be completed within four months, subject to the necessary statutory, regulatory and other approvals, including approval of the Competition Commission of India and the shareholders of the company.
Jubilant Industries is the flagship Company of Agri and Performance Polymers business of the Jubilant Bhartia group. The Company’s diversified portfolio includes a wide range of Crop Nutrition, Crop Growth and Crop protection Agri products and Performance Polymers products comprising consumer products like adhesives, wood finishes; food polymers and latex such as Vinyl Pyridine, SBR and NBR latex.
