PCBL Limited acquire Aquapharm Chemical Pvt. Ltd. from Vimal V. Mangwani, Dharmesh Mangwani, Nitin Raojibhai Desai and other shareholders for INR 38 billion.
Published on 01/30/2024 at 18:00
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PCBL Limited (NSEI:PCBL) entered into a share purchase agreement to acquire Aquapharm Chemical Pvt. Ltd. from Vimal V. Mangwani, Dharmesh Mangwani, Nitin Raojibhai Desai and other shareholders for INR 38 billion on November 28, 2023. As of March 31, 2023, Aquapharm Chemical Pvt. Ltd. reported turnover of INR 20.45 billion, EBIDTA of INR 4.17 billion and profit after tax of INR 2.75 billion. The transaction is subject to approval from the Competition Commission of India and other customary related filings and approvals. The acquisition is expected to be completed within 2-3 months from the date of SPA execution. Rohitashwa Prasad of Dentons Link Legal acted as legal advisor to Aquapharm Chemical. Aamit Joshi, Bernd Schneider, Sarah Dick and Amitabh Ghule of Stifel Nicolaus Europe Limited acted as financial advisor to Aquapharm Chemical. PCBL Limited (NSEI:PCBL) completed the acquisition of Aquapharm Chemical Pvt. Ltd. from Vimal V. Mangwani, Dharmesh Mangwani, Nitin Raojibhai Desai and other shareholders for INR 38 billion on January 31, 2024.
PCBL Limited (NSEI:PCBL) completed the acquisition of Aquapharm Chemical Pvt. Ltd. from Vimal V. Mangwani, Dharmesh Mangwani, Nitin Raojibhai Desai and other shareholders for INR 38 billion on January 31, 2024. Ankit Chhabra of Eversheds Sutherland acted as legal advisor to PCBL Chemical Limited.
PCBL Chemical Limited, formerly PCBL Limited, is an India-based carbon black manufacturer. The Company is primarily engaged in the business of manufacturing and sale of carbon black and sale of power. The Companyâs segment includes Carbon Black, Power and Chemicals. The Carbon Black segment is engaged in production of Carbon Black through its five manufacturing units located at Durgapur, Kochi, Palej, Mundra and Tiruvallur District. The Power segment is engaged in generation of electricity. The Chemicals segment is engaged in the business of manufacturing, marketing and sale of water treatment chemicals and oil and gas chemicals. Its specialty chemicals segment with a production capacity of approximately 7,70,000 metric tons per annum and generating 122 megawatts per hour of green power. Its products include specialty chemicals, tires and performance chemicals, and others. Specialty chemicals are primarily used as a pigment in plastics, inks, coatings, and many other applications.
PCBL Limited acquire Aquapharm Chemical Pvt. Ltd. from Vimal V. Mangwani, Dharmesh Mangwani, Nitin Raojibhai Desai and other shareholders for INR 38 billion.
