DSM India Private Limited completed the acquisition of Engineering Plastics Business from SRF Limited.
August 31, 2019
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DSM India Private Limited entered into a definitive agreement to acquire Engineering Plastics Business from SRF Limited (BSE:503806) for INR 3.2 billion in cash on May 11, 2019. Under the terms, INR 3.2 billion shall be received, subject to working capital adjustments, upon completion of sale. For the year ended December 31, 2019, Engineering Plastics Business reported its sales of INR 2.09 billion. The completion of the sale is subject to certain conditions, which are required to be satisfied within 6 months. The acquisition is expected to close in third quarter of 2019. Singhi Advisors Limited acted as the financial advisors to SRF Limited. Daksh Trivedi of AZB & Partners acted as legal advisor to SRF Limited. Gregory Crookes and Rona Nisar of Clifford Chance LLP acted as legal advisors to DSM India Private Limited.
DSM India Private Limited completed the acquisition of Engineering Plastics Business from SRF Limited (BSE:503806) on August 1, 2019.
SRF Limited is a chemical-based multi-business company engaged in the manufacturing of industrial and specialty intermediates. The Company's segments include Technical Textiles Business (TTB), Chemicals Business (CB), Packaging Film Business (PFB) and Others. The TTB segment's business includes nylon tire cord fabric, belting fabric, polyester tire cord fabric and industrial yarns and its research and development. The CB segment's business includes refrigerant gases, industrial chemicals, specialty chemicals, fluorochemicals and allied products and its research and development. The PFB segment's business includes polyester films and polypropylene films. The others segment includes coated fabric, laminated fabric and other ancillary activities. The Company has around 12 manufacturing plants in India and one each in Thailand, South Africa and Hungary. The Company exports to over 90 countries. It serves various industries, such as automotive, pharmaceuticals, manufacturing and chemicals.
SRF LIMITED 
