Maximus International has received approval for acquisition of a 40% stake in M/s Quebec Petroleum Resources (Quebec), a Vadodara-based company engaged in Lubricants Manufacturing & Petroleum Products Distribution, having presence in Indian market for more than twenty years. The cost of acquisition is Rs 18.43 crore.
In this regard, the company shall enter into a Share Purchase Agreement (SPA) with shareholder of Quebec. The completion of this acquisition is subject to fulfilment of the conditions in the SPA and other transaction documents/ agreements. The acquisition has been undertaken as a strategic investment for Indian domestic market in a similar line of business and with an objective of long-term value creation.
The Board of Directors of the company, at its meeting held on June 19, 2026, has approved the same.
Maximus International is primarily engaged in the business of importing and exporting lubricant oils, different types of base oils and other chemical products used mainly in the Automobile Industry, Power Industry and Metal manufacturing among others.
