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Rhi Magnesita India informs about acquisition

22 Apr 2023 Evaluate
Rhi Magnesita India has informed about acquisition of further 49% paid up equity shares of RHI Magnesita Seven Refractories ('RHIM Seven') by Dalmia OCL ('DOCL'),100% wholly owned subsidiary of RHI Magnesita India ('the Company'). DOCL has executed a Share Purchase Agreement (SPA) with Seven Refractories GMBH, Vienna vide agreement dated 21 April 2023 for acquisition of the balance 49% paid up equity shares of RHIM Seven (formerly known as Dalmia Seven Refractories) for cash consideration of Rs.64 Crore. DOCL already owns 51% paid up equity shares of RHIM Seven and will own 100% paid up equity shares of RHIM Seven following completion of the acquisition. The acquisition is subject to standard closing conditions and is expected to complete in the second half of 2023. After completion of abovesaid equity acquisition, RHIM Seven becomes 100% wholly owned subsidiary of DOCL. 

The above information is a part of company’s filings submitted to BSE.

RHI Magnesita Share Price

410.00 8.55 (2.13%)
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