Manali Petrochemicals acquires Penn Globe

30 Nov 2022 Evaluate

Manali Petrochemicals (MPL) has completed the acquisition of Penn Globe, UK (PGL) on November 30, 2022 by acquiring its entire stake (100%) for a consideration of GBP 21 million. The company has completed this acquisition through its Wholly Owned Subsidiary -- AMCHEM Speciality Chemicals (AMCHEM). With this acquisition, PGL along with its two subsidiaries in UK viz., Penn-White and Pennwhite Print Solutions have become wholly owned subsidiaries of MPL.

Penn Globe, which is located in Cheshire, United Kingdom, is a global market leader in foam control agents and similar chemical products including lubricants, surface coatings, release agents and silicone emulsions. The Boards unanimously approved the acquisition of the company.

Manali Petrochemical (MPL) is a leading petrochemical manufacturer based in Chennai, India. It markets propylene glycol and polyols.

Manali Petro Share Price

73.49 0.63 (0.86%)
21-Feb-2024 09:31 View Price Chart
Peers
Company Name CMP
Tata Chemicals 987.90
SRF 2391.35
Pidilite Inds. 2725.90
Aarti Inds 707.90
Gujarat Fluorochemic 3544.00
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