Himadri Speciality Chemical has received approval from board of directors for acquisition of 60% paid-up equity share capital of Trancemarine and Confreight Logistics (target company) for a total purchase consideration of Rs 4.23 crore (Purchase Consideration) in cash, by way of purchase of equity shares from the existing shareholder of Trancemarine and Confreight Logistics.
Further, the Board has also approved the execution of a share purchase agreement (SPA) between the Company and Trancemarine and Confreight Logistics and its existing shareholder and also shareholder’s agreement (SHA) between the Company, Trancemarine and Confreight Logistics, existing shareholders and Key Personnel of the target company, loan agreement and other necessary documents regarding the aforementioned acquisition, whereby the Company agrees to acquire 60% stake in the target company.
On completion of the said purchase, Trancemarine and Confreight Logistics will become Subsidiary of Himadri Speciality Chemical and Sturdy Niketan, the subsidiary of the target company will become step down subsidiary of Himadri Speciality Chemical.
Himadri Speciality Chemical is primarily engaged in the manufacturing of carbon materials and chemicals. The company has operations in India and caters to both domestic and international markets.
| Company Name | CMP |
|---|---|
| PCBL Chemical | 290.65 |
| Himadri Speciality | 536.25 |
| Goa Carbon | 364.85 |
| Hi-Green Carbon | |
| View more.. | |
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