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    500331   INE318A01026

PIDILITE INDUSTRIES LIMITED

(500331)
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Pidilite Industries : to Acquire Huntsman Corp.'s India Subsidiary for $283 Million

10/28/2020 | 09:31pm EDT

By P.R. Venkat

Pidilite Industries Ltd. has agreed to acquire an Indian unit of Huntsman Corp. for 21 billion Indian rupees ($283.06 million).

The Indian listed entity will acquire Huntsman Advanced Materials Solutions Pvt. Ltd. in an all-cash deal, Pidilite said Thursday.

The transaction is expected to close by next week.

Under the terms of the agreement, Huntsman, a leading global producer of differentiated organic chemical products, will receive approximately 90% of the cash consideration at closing of the deal.

The balance of 10% will be paid under an earnout within 18 months if the business achieves sales revenue in line with 2019, the company said.

Pidilite is a manufacturer of adhesives and sealants, construction chemicals, and polymer emulsions in India.

Write to P.R. Venkat at venkat.pr@wsj.com

(END) Dow Jones Newswires

10-28-20 2230ET

Stocks mentioned in the article
ChangeLast1st jan.
HUNTSMAN CORPORATION -0.09% 26.35 Delayed Quote.4.65%
PIDILITE INDUSTRIES LIMITED -0.19% 2295.25 End-of-day quote.29.97%
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Financials
Sales 2022 89 531 M 1 202 M 1 202 M
Net income 2022 13 544 M 182 M 182 M
Net cash 2022 5 036 M 67,6 M 67,6 M
P/E ratio 2022 86,9x
Yield 2022 0,42%
Capitalization 1 166 B 15 651 M 15 658 M
EV / Sales 2022 13,0x
EV / Sales 2023 11,2x
Nbr of Employees 6 376
Free-Float 21,5%
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Mean consensus HOLD
Number of Analysts 19
Last Close Price 2 295,25 INR
Average target price 1 846,00 INR
Spread / Average Target -19,6%
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Managers and Directors
Bharat Tilakraj Puri CEO, Managing Director & Director
Pradip Kumar Menon Chief Financial Officer
Madhukar Balvantray Parekh Executive Chairman
Mayur Danait Chief Information Officer
Anubhav Saxena President-Research & Development
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