Pidilite Industries Limited completed the acquisition of 70% of Tenax India Stone Products Private Limited from TENAX SPA.
May 27, 2020
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Pidilite Industries Limited (BSE:500331) entered into a definitive agreement to acquire 70% of Tenax India Stone Products Private Limited from TENAX SPA for approximately INR 800 million on February 27, 2020. The consideration will be paid in Cash and is dependent upon actual working capital and cash at the time of closing. Post acquisition, Tenax India will become a subsidiary of Pidilite. Tenax Italy will continue to be a partner having 30 per cent stake in Tenax India.
Pidilite Industries Limited (BSE:500331) completed the acquisition of 70% of Tenax India Stone Products Private Limited from TENAX SPA on May 28, 2020.
Pidilite Industries Limited is an India-based manufacturer of adhesives and sealants, construction chemicals, craftsmen products, DIY (Do-It-Yourself) products, and polymer emulsions. The Company, together with its subsidiaries, is focused on consumer and industrial specialty chemicals. The Company's segments include Consumer and Bazaar (C&B), Business to Business (B2B), and Others. The C&B segment covers the sale of products mainly to end consumers, which are retail users such as carpenters, painters, plumbers, mechanics, households, students and offices, among others. The Company's products include adhesives, sealants, art and craft materials and construction and paint chemicals. The B2B segment includes industrial products such as adhesives, synthetic resins, organic pigments, pigment preparations, construction chemicals (projects) and surfactants, among others. It caters to various industries, such as packaging, textiles, joineries, printing inks, paper and leather, among others.
PIDILITE INDUSTRIES LIMITED 
