New Delhi, Nov 28

The Board of Directors of PCBL Limited has approved the acquisition of 2,12,172 shares of Aquapharm Chemicals Private Limited (ACPL), for an aggregate consideration of Rs 3,800 crores representing 100 per cent of the issued and paid-up share capital (on a fully diluted basis) of ACPL.

The company has executed a share purchase agreement dated November 28 (SPA) with ACPL, Vimal V. Mangwani, Dharmesh Mangwani, Nitin Raojibhai Desai and other shareholders of ACPL, for undertaking the Proposed Transaction, subject to inter alia obtaining all necessary approvals and fulfillment of other customary conditions, as per the terms and conditions specified in the SPA.

The proposed transaction shall be financed through a mix of internal accruals and external fund raise by the company and/or its affiliates/associates.

This acquisition of ACPL marks Companyâ€™s foray into global specialty segments of Water treatment Chemicals and Oil & Gas Chemicals and it is the first milestone in achieving the vision of creating a multi-platform global specialty chemical business portfolio.

Aquapharm Chemicals Private Limited had a consolidated turnover for the year ended 31 March 2023 at Rs 2,008.8 crores.

Aquapharm Chemicals Private Limited is a private company engaged in the business of manufacturing specialty offering water treatment solutions to marquee global customers across diverse end-markets.

PCBL to acquire Aquapharm Chemicals for Rs 3800 crore