Grasim Industries Limited (NSEI:GRASIM) signed a definitive agreement to acquire Chlor-Alkali Business of K.P.R. Industries (India) Limited for INR 2.5 billion on February 18, 2019. The consideration will be paid in cash. Grasim would take over the assets and identified liabilities associated with the Chlor-Alkali Business. The transaction will be funded through internal accruals. The transaction is subject to regulatory approvals. K.P.R. Industries would utilize INR 2.5 billion towards a full and final settlement of the lenders' dues under a one-time settlement. Nikhilesh Panchal of Khaitan & Co. acted as legal advisor to K.P.R. Industries (India) Limited. Grasim Industries Limited (NSEI:GRASIM) completed the acquisition of Chlor-Alkali Business of K.P.R. Industries (India) Limited on February 19, 2019.