GMM Pfaudler is planning to increase its stake in GMM International S.a.r.l (GMMI) to 100% by acquiring the balance 46% stake i.e., 26% held by Millars Concrete Technologies (Patel family) and 20% held by Pfaudler International S.a.r.l (which is controlled by funds managed by Deutsche Beteiligungs AG under DBAG Fund VI). With this transaction, GMMI will become a wholly owned subsidiary of the company.
The proposed acquisition will be subject to the approval of the Secretary of State for Business, Energy and Industrial Strategy, United Kingdom and the public shareholders of the Company. Total consideration of Rs 344 crore to be paid in cash and equity shares.
GMM Pfaudler is a leading supplier of engineered equipment and systems for critical applications in the global chemical and pharmaceutical markets.
