Camlin Fine Sciences rises on entering into SPA to acquire 51% stake in NWFFCL

26 Dec 2016

Camlin Fine Sciences is currently trading at Rs. 102.40, up by 3.50 points or 3.54% from its previous closing of Rs. 98.90 on the BSE.

The scrip opened at Rs. 100.00 and has touched a high and low of Rs. 103.10 and Rs. 100.00 respectively. So far 9,934 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 119.60 on 26-Oct-2016 and a 52 week low of Rs. 76.10 on 29-Feb-2016.

Last one week high and low of the scrip stood at Rs. 105.00 and Rs. 96.00 respectively. The current market cap of the company is Rs. 1,058.92 crore.

The promoters holding in the company stood at 41.09%, while Institutions and Non-Institutions held 11.56% and 47.35% respectively.

Camlin Fine Sciences has entered into a Share Purchase Agreement (SPA) to acquire 51 percent stake in China-based Ningbo Wanglong Flavors and Fragrances Company (NWFFCL). The acquisition is subject to RBI approval and expected to be completed on or before June 30 next year. The said acquisition can also be through the company’s subsidiaries and/or group companies.

NWFFCL is a medium-sized company engaged in research, development and production of flavours and fragrances (food additives), as well as an agency of import and export of goods and technologies. It sells its products directly to food manufacturers, distributors and industrial customers globally and utilizes proprietary processes and technology.

Camlin Fine Chemicals is the world's second largest manufacturer and marketer of food grade antioxidants BHA (butylated hydroxyanisole) and TBHQ (Tertiary Butylhydroquinone).


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